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Gold/Mining/Energy : Gold Price Monitor
GDXJ 108.29-0.9%Dec 1 4:00 PM EST
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To: lorne who wrote (71917)6/18/2001 7:52:46 AM
From: lorne  Read Replies (1) of 116790
 
Commodities: Gold prices fall as lease rates on loans rise
The Wall Street Journal - US Abstracts; Jun 18, 2001
Gold loan lease rates are up to 2.5% in interest, more than double the rates of a few months ago, in a rise that should theoretically discourage gold borrowing and improve prices. However, the August contract fell 1.48% to $272.30 an ounce in trading on the Comex division of the New York Mercantile Exchange, as the high lease rates force borrowers to sell gold in order to pay off loans.
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