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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 665.67-0.9%Nov 17 4:00 PM EST

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To: Judy who wrote (15024)1/6/1998 7:10:00 AM
From: j g cordes  Read Replies (1) of 68077
 
Morning Judy, if you're still in touch with TT pass on this newsbit about gold. We've both been looking for signs of a bottom and this S.Korean piece is timely on additional dumping. thanks.. Jim

"ORONTO, Jan 5 (Reuters) - Fears of a flood of bullion from South Korea, and comments about
deflation by Federal Reserve Board Chairman Alan Greenspan battered the Toronto Stock
Exchange's already fragile gold sector on Monday.

Toronto's influential gold and precious minerals sector dropped 343.90 points or 5.33 percent to
6113.52 in midday trading.

The drop followed a 43.6 percent decline for the sector in 1997.

Heavyweights such as Barrick Gold Corp. (NYSE:ABX - news; Toronto:ABX.TO - news) and
Placer Dome Inc. (NYSE:PDG - news; Toronto:PDG.TO - news) were hit hard. Barrick slipped
C$1.65 or 6.1 percent to C$25.40, while Placer dropped C$1.30 or almost 7.1 percent to
C$17.10 in Toronto.

On the New York Stock Exchange, Barrick fell $1.12 to $17.75 and Placer was off 75 cents to
$12.
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