Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: r.edwards who wrote (51900)	9/26/1999 10:55:00 PM
From: Roebear	Read Replies (1) of 95453

O/T, Do you remember the depths of December and the heady run March April May?? A parallel experience perhaps?: cbs.marketwatch.com biz.yahoo.com Home - Yahoo! - Help [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN ] Sunday September 26, 9:21 pm Eastern Time Gold jumps to four months high on ECB sales limit SYDNEY, Sept 27 (Reuters) - Gold bullion jumped by more than US$5 an ounce in early Monday trading in the Asian/Australian time zone after statements from the European Central Bank. Busy traders said the price jump followed a statement from 15 European central banks on Sunday that gold would remain an important element of global monetary reserves. The banks also had decided gold sales would not exceed 400 tons in any of the next five years. Spot bullion was at US$273.00/274.00 at 10:30 a.m. (0030 GMT), the highest since May this year. Spot bullion was last quoted at $268.50/269.00 in New York on Friday. By 10:50 a.m. (0050 GMT), the gold price had risen further to $275.00/276.50. Australian traders said buying was solid around $275 an ounce and that prices had jumped right from the start of trade. They said the European Central Bank statement was the main factor behind the price surge. ''This is a very important development,'' said Keith Goode, gold analyst for Bell Securities Ltd. ''We should see gold go to at least US$285 (per ounce),'' Goode said. Related News Categories: US Market News Copyright © 1999 Reuters Limited. Help* Edit, I believe this is what the gold shorts are saying at this moment, heh heh*

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