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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: John Hunt who wrote (29613)	3/9/1999 11:20:00 AM
From: Alex	Read Replies (1) of 116764

Midsession N.Y. Metals Comments: Part 2 <Picture> Kaplan noted that one other factor which potentially could help gold and silver in the coming weeks or months is possible buying out of India. This is especially true after release of the country's budget over the weekend, which markets have viewed negatively, causing worries that the country's currency may eventually be devalued, he explained. "If the Indian citizenry foresees the possibility of this (devaluation), the trade is anticipating stepped-up demand for gold and silver," said Kaplan. Platinum and palladium opened near steady but have downticked since. These markets have been largely consolidating, although some product has entered the market lately, which is not surprising considering the recent run-up in prices, said Kaplan. Support in April platinum was put around $368 to $370, while resistance was listed at $387 to the Feb. 24 high of $388. (If you have questions or comments about this story, e- mail Allen Sykora at allens@fwn.com.) End (c) Copyright 1999 FWN

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