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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Enigma who wrote (22385)	10/29/1998 6:41:00 AM
From: John Hunt	Read Replies (2) of 116830

Gold steady in Europe, dealers suspect silver squeeze biz.yahoo.com << Gold traded steady in early European trade on Thursday, helped by a weaker dollar, as silver continued rallying higher amid concern that somebody may be trying to squeeze the market, dealers said. Gold was last quoted at $293.45/$293.85 a troy ounce against the New York close of $292.70/$293.20. Silver was $5.06/$5.09 an ounce from the previous close at $5.04/$5.07. Dealers said silver had built on a strong rally after triggering buy stops while rumours also circulated in the market that someone was trying to squeeze the silver market. ''There has been some speculation that someone is trying to squeeze it again because there has been some aggressive borrowing in the lease rates,'' one dealer said. He said the six-month silver lease rate had increased by 1.5 percent over the past couple of days which indicated a tightening in the silver market. >>

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