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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: long-gone who wrote (21798)	10/16/1998 6:33:00 AM
From: cool	Read Replies (2) of 116762

Gold rises above 300 dollars after US rates cut Gold rises above 300 dollars after US rates cut LONDON, Oct 16 (AFP) - Gold rose above the 300 dollars an ounce level mid-morning Friday on the London Bullion Market in response to the surprise overnight cut in US interest rates. Gold was being traded at 300.55 dollars an ounce, up from 297.85 dollars at close on Thursday. A precious metals analyst at Paribas in London, Charles Kernot, said that the fall of US rates had made it cheaper for investors to borrow dollars to buy gold. mh/sms/hd

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