Within the 24 hours gold has grown on the world exchanges more than by $15

/IRBIS, Sep.27, 99, Dmitry Gurevich/ - Within the 24 hours gold rose more than by $15 - from $268.4 to $282.5 - $ 284.0 per troy ounce. It is the extraordinary event for the last half-year. This time the jumps of prices as a rule were directed downturn, and the size them did not exceed the first dollars. The direct reason of growth is the statement of the European Central Bank and 14 Central Banks of European countries made on Sunday in New York. The statements said that there would be no sales beyond those already announced over the next 5 years and that the annual sales will not exceed 2,000 tonnes. Besides the banks agreed not to expand their gold leasings, gold futures and options. These measures also are targeted to returning to gold of its former role in the international financial system. Also on Sunday the International Monetary Fund announced the final decision to refuse the scheduled direct market sale of 300 tonnes of gold. The recovery of gold began on Tuesday, at once after auction in London, on which the Bank of England in a few minutes sold 25 tonnes of metal at the price of $255.75/oz. The demand on auction exceeded the supply eight times. Probably, many dealers expected Sunday's events. The price of gold in the last months was obviously underestimated. Even in the sense that it did not exceed world average cost of gold production. The price literally was knocked down by the plan of the English Government to sell 60% (415 tonnes) of its reserves. After this selling market participants expected the further sale of gold by the leading countries of the world. Anyhow whether the European countries will increase or reduce their gold reserves, the banks are interested in the grow of gold price - not less than mining companies. Present share of yellow metal in the reserves of European countries varies from 17% (England) to 54% (France).