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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: long-gone who wrote (23151)	11/19/1998 7:37:00 PM
From: goldsnow	Read Replies (2) of 116763

Gold recovery still continuing THE Asian economic and currency crisis kept gold demand below normal levels in several countries, but overall global demand continued to recover in the third quarter of this year from the poor start to the year, the World Gold Council said yesterday. It said the total gold demand in the countries it monitored was 676 tons, just 1% below the record achieved in the third quarter of last year. The good statistics were the result of a steady performance by jewellery and a surge in investment, especially in the US, where coin sales rose to near-record levels. "The most significant development in the third quarter was a continued increase in the demand for gold as an investment," the council said. "All over the world investors are looking for ways to preserve their wealth and increasingly those investors are starting to turn to gold. "The outlook is for the recovery to continue over the remainder of the year." The council said the market was running into what was traditionally the strongest period of the year for demand. - Sapa. bday.co.za

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