Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (56738)	7/27/2000 4:59:48 AM
From: long-gone	Respond to of 116816

Asia Precious Metals Review: Gold rises on improving sentiment Jul. 27-MAR-- [B] Asia Precious Metals Review: Gold rises on improving sentiment By Mari Iwata and Polly Yam, BridgeNews Tokyo--July 27--Spot gold rose in Asia on Thursday as market sentiment has been improving, dealers said. More players expected spot gold to test its nearby resistance of U.S. $282 in the near term after it was repeatedly supported at $278 over the previous couple of days, they said. Wide spread between bids and offers for spot palladium and platinum continued to limit Asia-based players' trading on the two metals. * * * Weak Australia dollar-denominated gold prices triggered buying from Australia for the second consecutive day, dealers noted. They said the buying prompted follow-through purchases from other Asia-based players though it was not aggressive. Dealers noted that physical demand was absent during the Asian trading on Thursday, as most that demand concentrated at $278-279. As the price of gold repeatedly failed to touch its support of $275 in the past few days, more players expected the price to turn around to test its resistance, dealers said. They said the gold trading has remained relatively thin, thus the price may rise sharply when major players increase positions. Silver stood firm with sluggish trading on Thursday and is expected to still range between $4.92 and $5.02 in the near term. Little movement was seen on spot platinum and palladium in Asia, as few wanted to take risks when the spread of bids and offers remained wide, dealers said. "Wide spread means players could lose a lot of money in a day," one dealer said, adding the trading costs for the two metals are considered high to players. However, he noted that Japanese players' trading of the two metals have increased slightly. Traders in Japan said spot platinum fell for the fourth consecutive day after reaching the $590 levels late last week. With the general impression that spot platinum has been supported by the global lack of supply, the traders in Japan said the supply now was not tight. Prices of Tokyo Commodity Exchange (TOCOM) platinum futures moved within a relatively narrow band on Thursday as profit-taking was offset by massive short-covering, dealers said. TOCOM gold futures rose in the morning session following stronger spot gold prices but it lost most of the gains in the afternoon due to profit-taking, dealers noted. Spot precious metals prices are in U.S. dollars per troy ounce: Tokyo 0630 GMT Tokyo 0000 GMT New York 1330 ET Gold 280.15-281.15 279.70-280.20 278.20-280.50 Silver 4.95-4.98 4.94-4.96 4.95-4.98 Platinum 562.00-569.00 564.00-570.00 565.00-566.00 Palladium 760.00-770.00 760.00-770.00 763.00-766.00 TOCOM contracts for June 2001 delivery. Prices in yen per gram, except silver in yen per 10 grams: Settlement Change Open High Low Gold 978.0 -1.0 980.0 984.0 977.0 Silver 172.80 -0.30 171.70 173.50 170.90 Platinum 1845 -6.0 1846 1854 1836 Palladium 2531 0.0 2510 2540 2510 news.ino.com