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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: long-gone who wrote (58931)	9/26/2000 4:04:01 PM
From: lorne	Read Replies (1) of 116759

Macquarie says gold overvalued, could fall to US $250 per ounce London--Sept. 25--Gold is overvalued and could fall back to the U.S. $250 per ounce level, according to Macquarie Equities' weekly report released Monday. "There seems little likelihood of any real upside in gold prices (even with intervention to save the euro); physical demand is soft in key markets (India, Italy, the U.S. and China); and central banks are selling and lending at record levels and producers have reduced their hedging positions," it notes. (Story .13202) China may allow domestic physical gold trading in early 2001 Hong Kong--Sept. 25--The Chinese government is expected to allow physical gold trading in the domestic market early next year, the first time in more than 50 years, official sources in Beijing told BridgeNews. The government is likely to choose Shanghai or Beijing, or both cities, to operate a physical market that will provide the place and the trading system for gold trading, they said. (Story .12306) crbindex.com

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