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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.98

+0.7%

Jan 8 4:00 PM EST

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To: Sergio R. Mejia who wrote (2585)	10/28/1997 3:11:00 AM
From: Sergio R. Mejia	Read Replies (2) of 116844

Dollar Tumbles Amid Concern Global Stock Markets May Melt (from Bloomberg News) Down The dollar tumbled against other major currencies after U.S. stocks yesterday posted their worst single-day point decline ever and their worst percentage drop since the October 1987 crash. The plunge in U.S. stocks raised concern global stock markets may melt down. That could prompt international investors to park their money in safer investments in their own currencies to reduce exchange-rate risk, traders said. The dollar fell as low as 119.90 yen, its lowest since Oct. 17. That's down from 122.03 yen in late New York trading yesterday. The U.S. currency traded as low as 1.7095 marks from 1.75 marks in New York yesterday. That's the weakest since June 11. It recently traded at 120.54 yen and at 1.7259 marks.

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