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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: PaulM who wrote (20163)	9/30/1998 8:44:00 PM
From: goldsnow	of 116767

Expectations for further rate cuts can be seen in Eurodollar futures, among the most sensitive guides to changes in Fed rate expectations. The implied yield on the March contract for three-month Eurodollars stands at 4.74 percent, more than 1/2 point below current three-month borrowing rates. That suggests traders expect the central bank will lower rates by about another 50 basis points before the contract expires in mid-March. ''The weakness in the global economy and a moderation in U.S. growth will cause the Fed to lower rates again,'' said Gemma Wright, a government bond strategist at Fimat USA Inc. bloomberg.com

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