-> SNETNEWS Mailing List What gives here, with this 180 degree reversal? Gold is up $20 in just a week's time, and still rising. Looks like the short sellers suddenly can't get their hands on enough real gold instead of paper. So, last month the word was that gold was of no real value and therefore the central banks would sell their stocks. This month there seems to have been a change of heart, and what a change, fifteen central European banks agreeing to a five year moratorium. Whoo boy, if I was one of those gold mining companies who sold futures contracts to lock in the depressed price I might be a little angry if the price now decides to go up some more. Cheers, AGF Central banks agree to gold sales ban By Alan Beattie and Stephen Fidler in Washington Fifteen European central banks including the Bank of England last night announced a surprise five-year moratorium on all new sales of gold held in official reserves. The move was organised by the G-10 group of central bankers, chaired by Eddie George, governor of the Bank of England, and was announced by Wim Duisenberg, European Central Bank president, who is attending the annual International Monetary Fund annual meeting in Washington. http://www.ft.com/hippocampus/q181e86.htm -> Send "subscribe snetnews " to [EMAIL PROTECTED] -> Posted by: Bob Bartch <[EMAIL PROTECTED]>
