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Gold/Mining/Energy : Gold Price Monitor

GDXJ 89.99

+2.8%

Nov 5 4:00 PM EST

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To: Alex who wrote (69454)	5/18/2001 5:17:50 PM
From: goldsnow	Read Replies (1) of 116752

The last time the TSE's gold sector jumped that much in one day was on Oct. 21, 1987, a TSE spokeswoman said. Bullion shot up $16 US to $285 US an ounce after European central banks announced they would cap sales of their gold reserves. That sent gold shares up around the world, especially in Canada. "It's just a fantastic announcement," said David Thomas, a gold analyst at Newcrest Capital Inc. in Toronto. "Not just the move (by the central banks) but the change in sentiment is going to propel gold prices higher." Canadian gold companies, both major and minor players, watched their share prices gain anywhere from 10 per cent to 50 per cent on the TSE -- a massive increase over one day's trading. canoe.ca

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