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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: long-gone who wrote (33313)	5/7/1999 7:56:00 AM
From: Alex	Read Replies (2) of 116764

London--0815 GMT--May 7--AUD/USD has taken an swift early hit following the UK Treasury's announcement of a 5-part gold sale in 1999-2000, cutting its bullion reserves by 125 tonnes initially. Over the medium-term it will cut its holdings from 715 to 300 tonnes. The 99-2000 sales are roughly estimated to be worth around 1.26 bln USDs in total, broken into 5 parts ($250 mln each) the 1st auction being on Jly 6. Dealers report US players taking the opportunity to cash in gains made after the pair's recent run to 13-mo highs. AUD/USD peaked o/n at 0.6740, and was last bid at 0.6680, after falling to an intraday low of 0.6770 where support is seen from Thurs. 0.6645-50 below. (c) Copyright 1999 FWN futuresource.com

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