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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (3331)	5/26/2000 12:09:00 AM
From: J.T.	Respond to of 19219

Gold futures sink to eight-month low By Myra P. Saefong, CBS MarketWatch Last Update: 5:59 PM ET May 25, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Gold stocks fell while gold futures prices sank to an eight-month low by the close on Thursday, as traders squared away positions ahead of the Memorial Day weekend. June gold fell $3.10 to $270.70 an ounce - the contract?s lowest close since Sept. 22, 1999. July silver closed down 7.2 cents to $4.948 an ounce on the Commodity Exchange division of the New York Mercantile Exchange. For most of Thursday, however, gold prices traded only slightly lower on low volume as most traders took to the sidelines ahead of the Memorial Day weekend. The overall situation has been a strong dollar which has been putting pressure on the metals markets, brought on waves of producer hedge-selling, and taken away potential demand from the market, commented Dave Meger, a senior metals analyst at Chicago brokerage house Alaron.com. The stronger U.S. dollar makes the dollar-denominated yellow metal more expensive to foreign traders. However, Meger believes that most of today?s movement was ?technical liquidation moves.? Bill Leachman, a gold analyst and partner at L&S Advisors said ?rising rates are starting to take a toll on gold, plus the central bank selling is picking up again.? In the equities market, the Philadelphia Gold & Silver Stocks Index ($XAU: news, msgs) and the CBOE Gold Index ($GOX: news, msgs) fell 1.8 percent and 2.1 percent, respectively. Shares of Battle Mountain Gold (BMG: news, msgs) sank 1/8, or 6.1 percent, to 1 15/16 after Goldman Sachs? Daniel McConvey lowered his rating on the stock to ?market performer? from ?market outperformer.? Shares of Homestake Mining (HM: news, msgs) fell 1/4 to 6 13/16 and Agnico-Eagle Mines (AEM: news, msgs) slipped 7/16 to 5 5/16, while Anglogold (AU: news, msgs) added 1/8 to 18 1/4 on Thursday. Comex gold warehouse stocks, as of late Wednesday, were flat at 1,915,008 ounces. Silver stocks were unchanged at 101,700,532 ounces. July copper was down 0.6 cent to 83.25 cents a pound. The London Metals Exchange said copper supplies, as of early Thursday, were down 3,600 metric tons to 617,300 metric tons. Comex stocks rose 147 short tons to 74,805 short tons. June palladium fell $4 to $565 an ounce while July platinum lost $13.40 to $535.40 an ounce. Best Regards, J.T.

To: J.T. who wrote (3331)	5/26/2000 11:23:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

XAU Index now at XAU 57.70 if we can get above XAU 61 my target remains XAU 68. So far nice little run up 2%: charts-d.quote.com:443/959354463480?User=demo&Pswd=demo&DataType=GIF&Symbol=XAU.X&Interval=1&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10 Here are the stocks in the XAU: quote.yahoo.com Best regards, J.T.