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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: scouser who wrote (10479)	9/27/1999 3:06:00 AM
From: Jim Bishop	Read Replies (2) \| Respond to of 150070

GOLD just bought 12.5 tons of gold from the UK, at $255.75 an ounce last week. Gold now $282, up $25+ an ounce, since then. ------------- Gold bugs rejoice! While the "mainstream" media points to the Bank of England's gold auction as the cause for Tuesday's sudden jump in gold prices, MarketMaven's Michael Kosares prefers to focus on the attendees. One heavy bidder was South African-based Gold Fields (GOLD: news, msgs), buying half of the 25 tons offered. Its chairman, Chris Thompson said he would have bought more if he could and that he plans to attend future BOE auctions, adding that it was time for gold producers to start "supporting their industry." Also in attendance was fellow South African producer AngloGold (AU: news, msgs). ------------------ Monday September 27, 2:27 am Eastern Time Australian stocks end up as golds rally 16.5 pct Rocketing gold stocks and firmer banks help market end higher despite Friday's continued Wall Street declines. Gold sector spurts 16.5 percent as bullion price leaps, stronger bonds lift banks 1.3 percent. *Volume 452 mln, A$966 mln value, 1,137 stocks traded, 257 steady, 408 up, 472 down. SYDNEY, Sept 27 (Reuters) - The Australian share market ended higher on Monday as soaring gold stocks and recovering banks cast aside concerns about last week's Wall Street slide. ''Today was all about gold,'' dealer Steve Mayne of Macquarie Nevitts said. ''While the gold price is running, it's giving a bit of confidence to everything,'' Mayne said, but added that he would be surprised if the bullion-inspired rally could be sustained. biz.yahoo.com --------------