International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Claude Cormier who wrote (26022)	11/14/1997 1:58:00 PM
From: Bob Jagow	Read Replies (2) of 35569

CC, At least Ag is on the move. They mention EK backing off on digital photography as one factor-Bob Silver Futures Prices Leap On Hints of Tight Supplies By PALLAVI GOGOI and AARON LUCCHETTI AP-Dow Jones News Service NEW YORK -- Silver futures surged on the Comex division of the New York Mercantile Exchange, with falling warehouse stocks and rising lease rates pointing to a tightness in supplies, observers said. That supply tightness fueled talk about a deliberate "squeeze," whereby holders of physical silver attempt to push up prices by holding onto the metal as prices rise. However, some analysts said the rally had more to do with the market's strong fundamentals. Silver for December delivery leapt 23.2 cents to $5.135 a troy ounce in a 4.7% jump that brought the metal to its highest close in one month.

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