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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: TD who wrote (2660)	3/13/2000 10:29:00 AM
From: long-gone	Respond to of 8010

Monday March 13, 7:26 am Eastern Time Gold range-bound in quiet Europe, silver firmer LONDON, March 13 (Reuters) - Gold moved higher in range-bound trade in early Europe on Monday, with the market not expecting much movement ahead of next week's fifth British gold auction, dealers said. Spot gold was last quoted at $289.60/$290.10 a troy ounce, up from the New York close $288.50/$289.50. Gold firmed slightly in Asian trade and during the early European session on light physical buying. ``We expect another week of range-trading $2 either side of the pivotal $290.00 level,' metals traders Standard Bank London said in a report on its website (www.standardbank.com). Macquarie Equities Ltd said in a report that volatile oil, currencies and equity markets were having little impact on the gold market at present with liquidity thin. ``Good demand is evident below $290.00 an ounce and this continues to support gold. However, selling interest above this level is keeping gold within its current range,' Macquarie said. The Bank of England will conduct the fifth British gold auction on March 21, as part of its plan to reduce official gold holdings to 300 tonnes from 715 tonnes. Next week's auction will the last in the current tranche of sales and the UK Treasury announced the next set of sales on March 3. This series of sales will see 150 tonnes of British reserve gold sold on six 25-tonne auctions starting in May, 2000. SILVER FIRMER, SEEN HIGHER Silver edged higher on Monday with the market still in the dark about a huge silver position held by U.S. investor Warren Buffett's Berkshire Hathaway Inc (NYSE:BRKa - news)(NYSE:BRKb - news). Berkshire Hathaway's 1999 annual report, which was released on Saturday, made no mention of silver. Market talk has circulated that Buffett liquidated his large silver investment, which in 1998 amounted to 130 million ounces, or about 16 percent of world supply. ``The market could now move higher this week as the potential for bearish news is now gone. We set our target at $5.25,' said Frederic Panizzutti, vice president strategy and research at MKS Finance in Geneva... biz.yahoo.com