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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC) -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (264)	6/30/1999 4:02:00 PM
From: The Barracuda™	Respond to of 587

kitco.com note that the rates are up across the board. gold, silver and the pgms. I'd bet if lease rate for oil were posted we'd see them higher too. Getting both plat and Pal on the train is very good IMO Perhaps the gold market is about to experience a squeeze such as the pgm's and silver. It would be nice,huh?

To: Broken_Clock who wrote (264)	6/30/1999 10:03:00 PM
From: The Barracuda™	Respond to of 587

Gold stuck in range, ignores lease rate puzzle 06:54 a.m. Jun 30, 1999 Eastern LONDON, June 30 (Reuters) - Gold held in range below $262.00 during early European business on Wednesday, held in two-way trade as dealers juggled positions prior to next week's UK gold auction. London gold fixed at $261.20 a troy ounce in the morning, down on the previous afternoon's $262.00, ignoring further tightening in the short-term borrowing rates. Implied lease rates for one-month gold rose to 1.37 percent versus Tuesday's 1.14 percent, prompting an array of theories as to the cause. Andy Smith, commodities analyst at Mitsui Global Precious Metals Research, described the move as ''bizarre,'' blaming it on uncertainty ahead of Britain's 25-tonne auction on July 6. ''Isn't it going to be that there would be short-covering which would add liquidity to the lease market rather than subtract it?'' he said. ''I think people are just frightened ahead of the auction,'' he said, adding that the rise was not significant. ''You have got to get to two or three percent and stay there to spook committed shorts,'' he said. One London dealer put gold in a $4.00 range below $262.00 until the auction results came out. Bullion dealers, like those in other financial markets, remained watchful of a widely expected rise in key U.S. interest rates as U.S. Federal Reserve policymakers prepared for the final leg of their two-day policy meeting in Washington. While markets regarded the outcome as a foregone conclusion, suspense remained over whether the central bank would hint at more rate moves down the road should the U.S. boom continue. For gold bulls, any crumbs of evidence pointing to U.S. inflation would be welcome for a bullion price just a couple of dollars away from 20-year lows.