31. In the past year, central banks of both Belgium and the Netherlands announced they had sold gold from their reserves. 32. Industry experts said the British wanted to sell their gold earlier to get the best price. 33. Investors concerned that more central banks could sell gold from their reserves are also turning to silver. 34. It also sold gold to Sweden, Hungary, Slovakia and Turkey. 35. Investors hedge against gold prices by buying an option to sell gold held at a set price, at a future date. 36. Japanese traders buy and sell gold in Tokyo based on movements in the yen price of gold as a way to speculate in the currency markets. 37. Michel Camdessus, the managing director of the International Monetary Fund, last week said he expects the fund to sell gold for the first time in two decades. 38. Nations relied on gold to stabilize the value of paper money by standing ready to buy or sell gold at a set price. 39. On Wednesday, the chairman of the House Banking Committee, Rep. Jim Leach, R-Iowa, said he opposed the plan to sell the gold. 40. Of greatest concern to investors is that, if several governments decided to sell gold without coordinating the sales, the price would plunge. |