Julian Phillips: Speculation on the next central bank gold agreement

Section:

10p ET Monday, September 13, 2004

Dear Friend of GATA and Gold:

We've not been able to locate an Internet
link for the English version of the Reuters
story below, but we HAVE located an Internet
link for the Italian version of the story,
also appended, and so it is confirmed.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Italian Central Bank Says
It Plans No Sales of Gold

From Reuters
Monday, September 13, 2004

ROME -- The Bank of Italy said in a statement on Monday
it had no plans to sell its gold reserves.

"The Bank of Italy ... has not spoken of this matter, nor
does any plan of this type exist," it said in a statement.

Central banks have been shedding gold, once a mainstay
of their reserve assets, in favour of hard currencies as
gold's status as a store of value has declined.

The Dutch central bank on Saturday said it would sell
100 tonnes of gold under the new five-year gold sale
agreement that takes effect in September and sell 50
tonnes left from a previous agreement.

* * *

Bankitalia, non esistono piani
di vendita riserve auree -- nota

From Reuters
Monday, September 13, 2004

http://www.reuters.com/locales/c_newsArticle.jsp?
type=businessNews&localeKey=it_IT&storyID=6222643

ROMA -- La Banca d'Italia non ha allo studio la cessione
delle sue riserve auree.

Lo precisa una nota dell'istituto centrale.

Il governatore "non ha mai parlato di questo argomento;
n su di esso esistono piani di alcun genere", si legge
nel comunicato.

"Diremo qualcosa a Washington", aveva detto sabato
scorso a Reuters il governatore Antonio Fazio richiesto
di commentare la posizione della banca centrale
italiana sull'argomento.

All'inizio di marzo stato rinnovato un accordo
quinquennale che vincola 14 banche centrali Ue a
limitare a 500 tonnellate annue la quota vendibile delle
loro riserve auree.

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----------------------------------------------------

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