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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.74

-1.2%

Dec 31 4:00 PM EST

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To: lorne who wrote (35208)	6/11/1999 9:41:00 PM
From: Don Green	Read Replies (1) of 116836

I found this great quote today while web surfing..." DON'T WAIT TO BUY GOLD - BUY GOLD AND WAIT!".. Precious metals ended New York mixed, with profit taking supporting gold, ending a week in which setting 20-year lows almost became a ho-hum event, dealers said. "You had such an oversold condition in gold that any type of rally is no big surprise," said Scott Meyers, senior analyst at Pioneer Futures Inc. "But nothing in here is even remotely positive. The fact that it didn't settle below $260 might be somewhat comforting but I don't see gold going anywhere fast, certainly (not) to the upside." Silver built on recent gains, with friction reduced as gold bounced and some questioning whether gains would be sustained. "Silver is performing better --it doesn't have quite the same (bearish) fundamentals. But even then at $5.10 per ounce, it's by no means a rally," Meyers said. "I'd like to see it above a $5.20 settlement. That would make me a little bit more friendly towards the market. regards don

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