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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.14

-0.1%

Jan 13 4:00 PM EST

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To: Bald Eagle who wrote (4043)	12/9/1997 6:38:00 PM
From: lorne	Read Replies (1) of 116856

Gold slides amid currency turmoil . . . NEW YORK (CBS.MW) -- February goldÿdropped 1.8 percent to an 18-year low,ÿ pressured by the ongoing currency crisis in India, the world's largest gold consumer. Devalued along with other Asian currencies against the U.S. dollar, India's rupee has made gold more expensive for Indian traders because the metal is denominated in dollars. The dollar hit a 5 1/2-year high against the Japanese yen on Monday, however, the U.S. currency shed 0.5 percent against the yen in Tuesday trading. February gold fell $5.10 to $284.90 per troy ounce on the Commodity Exchange division of the New York Mercantile Exchange.

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