06/19/98 - 15 Trades for UKH
Ex Time Price Change Volume Buyer Seller Marks
T Jun 19 15:46 0.50 -0.02 3500 009 Nesbitt 092 Pollitt K
T Jun 19 15:46 0.50 -0.02 5000 033 Canaccord 092 Pollitt K
T Jun 19 13:50 0.53 0.01 2000 002 DS 002 DS K
T Jun 19 12:42 0.50 -0.02 4000 039 Midland 007 Green Line K
T Jun 19 12:42 0.50 -0.02 3500 039 Midland 092 Pollitt K
T Jun 19 11:43 0.50 -0.02 1000 033 Canaccord 092 Pollitt K
T Jun 19 11:27 0.50 -0.02 1000 088 Versus 092 Pollitt K
T Jun 19 11:27 0.50 -0.02 2500 009 Nesbitt 092 Pollitt K
T Jun 19 11:07 0.50 -0.02 1000 009 Nesbitt 092 Pollitt K
T Jun 19 11:00 0.50 -0.02 1500 007 Green Line 092 Pollitt K
T Jun 19 11:00 0.50 -0.02 1500 039 Midland 092 Pollitt K
T Jun 19 10:59 0.50 -0.02 8500 007 Green Line 034 Maison Placement K
T Jun 19 10:59 0.50 -0.02 8500 039 Midland 034 Maison Placement K
T Jun 19 10:59 0.50 -0.02 4500 009 Nesbitt 034 Maison Placement K
T Jun 19 10:59 0.51 -0.01 3500 009 Nesbitt 034 Maison Placement KL
Friday June 19, 3:37 pm Eastern Time
NY precious metals end sharply higher on dollar
NEW YORK, June 19 (Reuters) - COMEX and NYMEX precious metals futures ended sharply higher Friday, driven by further weakness in the dollar against the world's major currencies as well as further concerns about the health of emerging market economies, traders said.
''Gold's strength today was largely driven by the dollar's weakness, which prompted more fund shortcovering, but there has also been less producer selling than expected from Australia and South Africa, and the threat of European central bank gold sales is also fading,'' said Chase Manhattan managing director for global commodities, Dinsa Mehta.
COMEX August gold ended up $6.20 an ounce at $300.80, after seeing the highest level since late May intraday at $301.60.
Total COMEX gold volume was estimated at about 50,000 lots, after a 2,845-lot fall in open interest Thursday to 175,497 lots, reflecting more shortcovering by funds.
Spot gold in the bullion market ended quoted $298.50/00, compared to the London Friday afternoon fix at $297.75, and New York close Thursday at $293.20/70.
Implied lease rates for gold were little changed around 1.15 pct per annum for one month and 1.85 pct for 12 months.
''Currency markets fear that this week's intervention by the Federal Reserve to prop up the yen and help fend off a devaluation of China's currency, may presage the emergence of something like the 1987 Plaza Accord to cap the dollar's rise, which should help to support gold,'' said Refco economist James Steel.
''But Russia's funding problems, and China's problems defending its yuan, are raising fears a second round of emerging market problems may occur later this year, which ultimately may also help gold's price,'' he said.
COMEX July silver ended up 9.2 cents at a 10-day high at $5.352 an ounce, while spot silver in the bullion market ended quoted $5.37/40, compared to the London Friday fix at $5.2950 and the New York close Thursday at $5.26/29.
NYMEX July platinum closed up $4.80 at $363.00, while NYMEX September palldium ended up $4.35 at $290.55.
More Japanese trade house buying of PGMs was seen overnight given the recovery in the yen, US PGM dealers said.
But Russia has not been a seller of late and the expected talks this week between the Russians and the Japanese over renewing the annual supply contract have not eventuated, traders noted.
In May the Russians returned to the PGM spot market after a six month hiatus, driving prices down sharply from the all time high seen in palladium. |
