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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.90

+0.1%

Dec 4 4:00 PM EST

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To: John Hunt who wrote (34070)	5/18/1999 9:48:00 AM
From: Alex	Read Replies (1) of 116795

5/18/99 - Gold Ornaments Sell Well in Shanghai <Picture> SHANGHAI, May 18, AsiaPort -- Ten tons of gold ornaments such as necklaces, rings and earrings are expected to be sold in Shanghai this year, nearly the same level as in the past four years. Shanghai has seen a rise in the sales of gold pieces since 1982, when the country started to open the market for such items. Sales volume set a record high of 22 tons in 1993, and then decreased gradually through 1995. Over the past four years the volume has remained around 10 tons. Shanghai has been making efforts to bring its sales systems and services in this sector in line with international standards. The market price in Shanghai is 118 RMB yuan (US$ 14.2) for 1 gram of gold, slightly higher than overseas prices because of higher taxes. -0- Copyright 1998 Alestron, Inc. 19990518: AsiaPort Daily News

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