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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: Broken_Clock who started this subject6/25/2003 6:48:36 PM
From: Broken_Clock  Read Replies (1) of 587
 
I'd evnture to say that it has been years since this type of information has come to light.

Canberra, June 25 (Dow Jones) - Spot gold traded in a tight range
Wednesday, weighed down by ongoing long liquidation but getting some support
from central bank buying and demand from other sources, traders said.
All agree the gold market, indeed all financial markets, are muted ahead
of a rate cut decision from the U.S. Federal Open Market Committee, the policy
making arm of the Federal Reserve. An announcement is expected later Wednesday.
Spot gold was quoted early in Australia at US$347.60 a troy ounce and held
around this level through Asian trading.
A Sydney trader said Japanese demand supported gold.
"We've seen a lot of Japanese buying," he said. "The interest in the past
few sessions has been on (Tokyo Commodity Exchange) and that's also been
compounded by some central bank buying, which we've been seeing," he told Dow
Jones Newswires.
The trader couldn't or wouldn't identify the central bank, but said there
was certainly enough demand from that source to steady gold and push its price
up after Tuesday's downdraft in New York.
"It's been a feature of this week and also of last week," he said of the
central bank demand, and not just during Asian trading hours. "I believe
they've been trading in early London as well."
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