Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: John Paquet who wrote (41494)	9/29/1999 10:33:00 AM
From: goldsnow	Read Replies (1) of 116764

Canadian mining companies revelled in the continued rise in gold prices Tuesday - as gold broke through the $300 US barrier - but they're wary of any big celebrations until they see where the price of bullion stabilizes. Gold rose $21.60 to $301.50 an ounce on the London Metal Exchange and hit $308, up $26.20, on the New York Mercantile Exchange. "It's over $300 which is also a very important psychological barrier," said Vincent Borg, vice-president of communications with Barrick Gold Corp. (NYSE:ABX - news), Canada's biggest producer. "For technical trading it's just a psychological watershed," Borg said. "If you can get over $300, it could go higher, if it hangs below $300 then people can't see beyond that." "Sentiment has changed fundamentally." Movement beyond that mark attracts money to the gold sector and pushes the share prices of the gold companies higher. "The fact it broke through ($300 US) is significant," Borg said. ca.dailynews.yahoo.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next