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

To: Ken Benes who wrote (43897)	10/26/1999 10:47:00 AM
From: SwampDogg	Read Replies (1) \| Respond to of 116814

Must be the bottom lol (eom)

To: Ken Benes who wrote (43897)	10/26/1999 10:48:00 AM
From: Zardoz	Read Replies (3) \| Respond to of 116814

Tuesday October 26, 6:49 am Eastern Time Gold stems losses in Europe after hitting lows LONDON, Oct 26 (Reuters) - Gold slid to its lowest levels this month, then recovered slightly in European business on Tuesday. Options-related buying stemmed stop-loss sales triggered below $300, dealers said. Spot gold hit $295 a troy ounce at the start of European trade, before clawing back lost ground to trade at $297.40/$298.40, off 60 cents from New York's close. ''The disappointing close has prompted some overnight liquidation in Asia with the key $298 level being penetrated,'' Standard Bank London said in a report on website (www.standardbank.com). ''Further technical support should be found at $295, $290 and $285 while the lower price should stimulate physical interest.'' London gold fixed at $297.95 a troy ounce in the morning, down from Monday afternoon's $302.00. Dealers attributed overnight falls to stop-loss selling, particularly on Tokyo's commodities exchange. Increased liquidity in the gold lending market kept a lid on prices, with a one-month rate falling to 1.07 percent versus Monday's 1.41 percent and the 10 percent of 3-1/2 weeks ago. Gold prices, lease rates and volatilities rocketed higher in late September after 15 European central banks pledged to limit sales, leasing and derivatives activities for five years, catching the market completely by surprise. ''Gold has managed to bounce back up slightly this morning, with initial resistance now pegged at the old support level of $300,'' one London dealer said. SUPPORTIVE OPTIONS EXPIRY Wednesday's expiry in over-the-counter (OTC) options would support prices as options writers defended the $300 mark by buying metal. ''With the OTC option expiry tomorrow, the majority of strikes are around $300, we expect to see gold trade with a slight bias to the upside,'' the dealer added. Options volatilities, a pointer to market thinking on price trends and the key factor in options pricing, were last near 18 percent for one-month, historically high but down on levels near 50 percent at the start of October. Options give holders the right but not the obligation to trade metal at a future date and price, a right for which they pay a premium. No news had emerged on Tuesday about the outcome of talks between Ghanaian miner Ashanti Goldfields Co Ltd and the bullion bank counterparties to its gold hedge book, which dropped deep into the red when gold soared to $340. Spot silver was last at $5.25/$5.28, up from New York's close at $5.24/$5.27, platinum was $1 down at $425.00/$430.00 and palladium was 90 cents firmer at $392.00/$397.00. biz.yahoo.com

To: Ken Benes who wrote (43897)	10/26/1999 5:56:00 PM
From: Robert Dirks	Read Replies (2) \| Respond to of 116814

It's a David and Goliath, with no slingshot... I pointed out a week ago to everyone that the POG was declining day in day out. Since then we lost 20 + bucks. The manipulation machine is revving at top speed. Read my next post, the media is almost confirming that our mortal enemies the BOE "Intervenned" (i.e. manipulated the POG) today. Confirmation about what I and others have been screaming. Maybe tomorrow they will "Intervene" in Aluminum, Beans, Coffee and IBM.......