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DJ PRECIOUS METALS UPDATE: EFT Silver Fund To Be Launched(Comtex Business Via Thomson Dialog NewsEdge)TOP STORIES: EFT Securities Says It Will Launch Silver EFT Fund LONDON, Mar 07, 2006 (Dow Jones Commodities News via Comtex) --ETF Securities intends to launch a silver exchange-traded fund on the London Stock Exchange within the next month, Chairman Graham Tuckwell told Dow Jones Newswires, Tuesday. "We intend to launch the fund "very shortly", he said. "It will definitely not be later than next month." China Spot Gold Ends Sharply Lower On Pft-Taking By Banks SHANGHAI (Dow Jones)--Spot gold traded on the Shanghai Gold Exchange closed sharply lower Tuesday on aggressive profit-taking by banks after global prices slid in New York. S Africa February Gold, Forex Reserves ZAR138.49B PRETORIA (Dow Jones)--South Africa's net foreign exchange reserves, also known as the international liquidity position, increased by $284 million to $18.98 billion at the end of February from $18.70 billion at the end of January, the South African Reserve Bank said Tuesday. Commodity Investor Inflows To Stay Strong In '06 - BarCap SYDNEY (Dow Jones)--Commodity investment inflows are expected to stay strong this year, despite recent declines in index returns, Barclays Capital said late Monday. STORIES OF INTEREST: Platinum Australia Posts Smokey Hills Resources Estimate LONDON (Dow Jones)--Platinum Australia Limited Tuesday gave a preliminary resources estimate for the Smokey Hills PGM project. Buenaventura CEO Says Minas Conga On Line In 4-5 Years NEW YORK (Dow Jones)--Production at northern Peru gold and copper mine Minas Conga is likely to start in four to five years, the chief executive officer of mining company Compania Minera Buenaventura SAA (BVN) said Monday. Polyus Sells 20.05% Stake In Gold Fields For $2B -Agency MOSCOW (Dow Jones)--Russian gold mining company Polyus, a subsidiary of Russia's largest metals producer Norilsk Nickel (GMKN.RS), has sold its 20.05% stake in South African gold mining company Gold Fields Ltd. (GFI) for $2 billion, news agency Prime Tass reported Monday, citing Polyus. NEWS SNAP: Impala Opposes Zimbabwe Platinum Ownership Plan JOHANNESBURG (Dow Jones)--Impala Platinum Holdings Ltd. (IMP.JO), the world's second-largest platinum producer, said Monday that a proposal by the Zimbabwean government that 51% of the country's platinum operations be state-owned "is not in the best interests of developing the platinum industry in Zimbabwe." MARKETS: NY Precious Metals Review: Stops Accelerate Losses In Gold Long liquidation accelerated in gold as certain chart levels were broken, leaving the metal sharply lower in New York Monday, traders reported. China Spot Gold Ends Mixed; Higher Global Price Expected SHANGHAI (Dow Jones)--Spot gold traded on the Shanghai Gold Exchange closed mixed Monday, with benchmark bullion rising from its intraday low on expectations global gold will test an upper side $570 a troy ounce late Monday, traders said. -By Sumera Dean, Dow Jones Newswires; 4420-7842-9259; [email protected]; [email protected] (END) Dow Jones Newswires 03-07-06 0747ET |