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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.93

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To: Glenn D. Rudolph who wrote (125742)	5/30/2001 7:50:10 PM
From: craig crawford	Read Replies (1) of 164685

05/30 16:23 Gold Has Biggest Drop in 1 1/2 Years on Selling by Speculators By Claudia Carpenter quote.bloomberg.com (excerpts) New York, May 30 (Bloomberg) -- Gold had its biggest loss in 1 1/2 years on selling by speculators whose purchases sparked a rally to a 15-month high. Jeweler Inventories The cost of borrowing gold for one-month, at 2.08 percent on an annual basis, has doubled in the past three months. That's also discouraged some jewelers from replenishing inventories with borrowed gold. Michael Anthony Jewelers Inc., the biggest gold jewelry manufacturer in the U.S., has slowed such borrowing as lease rates rose. The gold supply held by the Mount Vernon, New York-based manufacturer has dropped 10 percent in the past year to 180,000 ounces, said Allan Corn, the company's chief financial officer. ``Higher lease rates have definitely made us look much more carefully at our inventory,'' he said. Gold has lost a third of its value since 1996, as sales of bullion by central banks added metal to the market at a time when tame inflation gave investors little reason to buy.

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