An open letter from GATA to New York Attorney General Eliot Spitzer

Netherlands plans to sell $866 million of gold

From Business Report, South Africa
Wednesday, February 18, 2004

a href=http://www.busrep.co.za/index.php?fSectionId=565amp;fArticleId=351395htt...

By Bloomberg News Service

LONDON -- The Dutch central bank planned to sell 65
metric tons of gold, worth $866 million, after a 15-nation
accord on such sales expires in September, spokesperson
Tobias Oudejans said yesterday. The agreement limited
participants' total sales to 2 000 tons over five years.
The Dutch central bank wanted to shed 300 tons of gold
when it signed the accord and had sold only 235 tons so
far.

quot;We are seeking to sell the remainder, regardless of
whether this is part of a new agreement or not,quot; Oudejans
said. He could not say whether the bank would seek to
sell additional reserves as part of any new agreement.

Gold prices have risen more than 50 percent since the
September 1999 accord helped to stabilise supplies. The
gold price in late London spot trade was up $2 at $413.70
an ounce.

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