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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

4:00 PM EST

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To: Enigma who wrote (23620)	11/30/1998 4:08:00 PM
From: Alex	Read Replies (3) of 116762

11/30/98 - Gold settles lower <Picture> The spot price of gold bullion settled lower (Monday) in moderate North American dealings on the Comex. Analysts say the yellow metal came under pressure from the Chinese government"s current clampdown on capital flight, which is slowing payments to overseas creditors and therefore disrupting trade, fuelling fears that the Asian economies are far from recovery. Traders added gold was also pressured by concerns of further bullion sales by the European Central Bank. On the metals markets, in late trading on New York"s Comex, a 100- troy-ounce gold futures contract for December delivery fell by $4 to $292.50. Republic Bank said the cash price for gold fell by $4 to $292. 60 an ounce. A 5,000-troy-ounce silver futures contract for December delivery declined by 7.6 cents to $4.825. Republic"s cash price declined by 7.5 cents to $4.845 an ounce. In Europe, Gold fell by $1.40 an ounce in Zurich to $294.85 and declined by $1 in London to $294.75. Silver eased by 5 cents an ounce in Zurich at $4.89 an ounce and fell by 5 cents in London to the same $4.89 an ounce. In Asia, gold eased by 20 cents an ounce to $296.05 in Hong Kong. _- Copyright 1998 by United Press International. All rights reserved. _-

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