05/13/98 - 12 Trades for UKH
Ex Time Price Change Volume Buyer Seller Marks
T May 13 15:11 0.60 0.00 16500 007 Green Line 083 Research Capital K
T May 13 15:11 0.60 0.00 8500 007 Green Line 083 Research Capital K
T May 13 15:04 0.60 0.00 2000 007 Green Line 002 DS K
T May 13 14:58 0.60 0.00 5500 007 Green Line 009 Nesbitt K
T May 13 13:51 0.62 0.02 3000 007 Green Line 002 DS K
T May 13 13:45 0.62 0.02 3000 009 Nesbitt 002 DS K
T May 13 13:29 0.60 0.00 6000 007 Green Line 009 Nesbitt K
T May 13 13:29 0.60 0.00 3000 007 Green Line 009 Nesbitt K
T May 13 12:08 0.60 0.00 350 094 094 059 PI EC
T May 13 12:08 0.60 0.00 1000 007 Green Line 059 PI K
T May 13 11:04 0.56 -0.04 105 094 094 009 Nesbitt EC
T May 13 11:04 0.56 -0.04 1000 014 Brink 009 Nesbitt KL
NEW YORK, May 13 (Reuters) - COMEX gold and silver futures ended mixed Wednesday, after
recovering from a weak opening, but NYMEX platinum and palladium futures ended sharply
higher.
"Gold and silver have fallen quite sharply in recent days and may decline further, as I
think there could be more long liquidation after silver took out the $5.60 area so easily,"
said Friedberg Mercantile Group fund manager, Chris Foster, in
Toronto.
COMEX July silver ended 3.22 cents at $5.533 an ounce, after seeing new four month intraday
lows at $5.430, following sharp falls of 16.7 cents Tuesday, and 23.0 cents on Monday.
Total COMEX silver volume was estimated at 21,000 lots, while COMEX silver open interest has
been rising this week,suggesting funds may be adding short positions, traders said.
In the bullion markets, spot silver ended quoted $5.53/56, compared to the London fix Wednesday
at $5.4600 and the New York close Tuesday around $5.58/61.
In industry news, preliminary projections for 1998 indicate Indian silver demand may fall
only about 4.0 pct to 123.4 million ounces, compared to 128.6 million ounces in 1997, New York
based industry consultants, CPM Group said in a research alert for its customers.
India is the world's largest consumer of silver, representing about 16 pct of total world
silver demand.
"And in the first four months of 1998, silver imports into India through legal channels
are estimated to have totaled more than 26.3 million ounces and possibly as high as
33.3 million ounces, compared to 36.3 million in 1997," CPM Group
managing director
Jeffrey Christian said.
Earlier this year, silver prices rallied to nine year highs at $7.90 an ounce, but rising
prices may have dampened demand,and investors may now be taking profits on long
positions built up in the past six months, traders said.
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