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

To: long-gone who wrote (41098)	9/27/1999 1:18:00 PM
From: Ron Struthers	Respond to of 116790

<<silver is really holding gains better than gold.>> I would suggest that those who missed this move in gold, that silver will be next. The bearish sentiment in gold is one reason why silver has not done much better, this is no longer a problem Ron

To: long-gone who wrote (41098)	9/27/1999 4:16:00 PM
From: P P Bravo	Respond to of 116790

Monday September 27, 3:55 pm Eastern Time Mexican miner Penoles' shares soar 9.72 pct MEXICO CITY, Sept 27 (Reuters) - Shares of Industrias Penoles, the biggest silver and bismuth producer worldwide, were up 9.72 percent Monday's afternoon, boosted by a rise in metal prices and hopes of a government authorization that would enable the firm to increase lead production in one of its plants. Penoles rose 2.45 pesos to 27.65 pesos on volume of 102,000 shares. ``The trigger today is the possibility of silver prices shooting up (with gold),' said Sandra Morfin at Santander Investment. Gold on the London market shot to $281.10/282.10 per ounce by the close on Monday from Friday's New York close at $268.50/269.00, helped by news European central banks pledged limits on official sector sales for the next five years. In a parallel move, silver prices on the London metal exchange ended higher at $5.35/5.37 Monday, versus last week's close at $5.22/5.24 in New York. Other traders said that hopes government could give thumbs up to Penoles for the company to increase lead production capacity at its Met-Mex unit in northern Coahuila state was also helping to lift the company's share price Monday. Penoles' Met-Mex facility is currently operating at half capacity after it was partially closed on May 21 due to dangerously high levels of lead found in blood samples taken from 1,000 local children. According to a spokesman at environmental watchdog Profepa, authorities have kept monitoring Penoles' Met-Mex plant. ``We still haven't received from Penoles the information that they have fully completed the cleanup at the (Met-Mex) plant,' the Profepa spokesman told Reuters Monday afternoon. ``It seems Penoles was planning to finish the construction of a special site for unloading debris,' he said. ``Before (the partial closing) they unloaded the debris it the open air; you had all this lead dust in the air and that was the main reason (for the poisoning).' Analysts expected Penoles to get the green light from the authorities to increase the Met-Mex lead output to 75 percent by the end this month.