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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject	2/6/2002 12:44:58 PM
From: Real Man	Read Replies (3) of 436258

NEW YORK, Feb 6 (Reuters) - J.P. Morgan Chase & Co. on Wednesday squashed rumors in financial markets that it sustained a loss during Tuesday's powerful gold rally, saying instead it made a profit on gold's run to two-year highs. "We had a very good day yesterday," said a senior bank official with knowledge of the bank's bullion trading operations. "There is no truth to the rumor that we have a short position in the market, and I don't know where that came from." He emphasized, "We did not lose money." COMEX benchmark April gold futures shot up $9 on Tuesday and continued to rally early Wednesday, topping at $309 an ounce, up more than $20 since Monday. The contract was last down $1.10 at $298 an ounce. Spot gold was quoted at $296.90/8.40, off from New York's close Tuesday at $298.00/75. Earlier Wednesday it hit a two-year high at $305 an ounce.

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