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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsnow who wrote (35660)	6/21/1999 6:49:00 PM
From: Don Green	Respond to of 116837

Silver reclaimed the key $5.00 level on Monday, in a small relief rally as the mood toward gold shifted from outright hostility to a more wait-and-see posture before Britain's first sale on July 6. "There is some reasonably good trade buying coming into market," said James Steel, analyst at Refco Inc. "Below $5.00 I definitely think there is enough physical demand for the market always to bob back up over $5.00." "Gold is neutral. There is very little activity there. The volatitily is in the silver not in gold," Steel said. "So your getting more technically motiviated and more people who need to make a market are heading into the silver." Investment bank Salomon Smith Barney, in a weekly futures commentary recieved by Reuters on Monday, said the odds that gold prices will soon rally have risen significantly, and said gold futures could correct back up to $280 or $290 per ounce. Salomon said the gold market should easily absorb the three auctions of 25 tonnes each, scheduled through the second half of 1999.