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Strategies & Market Trends : Fidelity Select Sector funds

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To: Julius Wong who wrote (4153)	1/17/2002 7:27:28 AM
From: Julius Wong	of 4916

interactive.wsj.com ... ... GOLD: Poor demand for the second-to-last auction of 20 metric tons of gold by the Bank of England put pressure on prices in New York, pushing the February contract on Comex $4.50 below the spot price in London yesterday morning. Fund buying emerged on the lows, however, and fresh buying by two trade houses rekindled the rally, a bullion dealer said. February gold ended $2.90 higher at $287.60 a troy ounce. Formidable losses in U.S. equity markets probably bolstered the gains, as investors sought quality alternatives for their money, Senior Vice President George Gero at Prudential Securities said. Resistance still is seen at $290 an ounce. ... ...

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