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

To: long-gone who wrote (35878)	6/25/1999 7:04:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 117020

Gold prices firm in early Europe, may try higher << Gold extended overnight Asian gains in early European trade and may try higher towards the $263.00 level, traders said on Friday. Spot gold was last quoted at $261.25/$261.65 a troy ounce, up from the New York close at $260.80/$261.30. Bullion ended higher in Hong Kong as currency-related Australian buying shored up the price. The Australian dollar firmed on Friday as copper prices rallied. London dealers said gold continued to hold steady around $261.00 and should move higher as the first auction of 25 tonnes of British gold reserves on July 6 drew nearer. ''Gold...feels long, it feels firm and could try higher as we creep towards July 6. However, there may still be some sticking points on the way up, so be cautious of some looking to sell rallies,'' one dealer said. With large short positions in the market, some dealers said the price could rally because players might want to cover their short positions ahead of the auction ... more ... >> biz.yahoo.com