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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: goldsnow who wrote (24900)	12/24/1998 8:26:00 PM
From: Don Green	Read Replies (1) of 116759

and NYMEX precious metals futures prices ended mostly lower Thursday in a shortened session ahead of the Christmas holidayFriday. Trading in COMEX gold and silver futures and NYMEX platinum and palladium futures ended about an hour earlier than usual on Thursday. Both COMEX and NYMEX markets will be closed for the Christmas holiday Friday. "Gold ended lower in some sloppy pre-holiday trading and the outlook remains weak, with gold seen taking out the week's low next week," said Scott Meyers, an analyst with Pioneer Futures inNew York. Slippage in gold prices this week has been linked to Australian gold miner hedging as the Australian dollar fell to a two-month low, traders said. In addition, the gold market remains concerned that more European central bank reserves may be sold after the introduction of the single European currency from Jan. 1, 1999, analysts said. The European Central Bank (ECB) is expected to announce guidelines on reserve management for the 11 central banks that are participating in European Monetary Union (EMU) before year-end.

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