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


To: long-gone who wrote (58894)9/26/2000 7:22:55 AM
From: long-gone  Respond to of 116762
 
Tuesday September 26, 6:43 am Eastern Time
Europe gold pegged to currencies, others quiet
LONDON, Sept 26 (Reuters) - European gold markets were slow on Tuesday, with the price seen continuing to trade in a 50 cents range, traders said.

The lull followed a good pick-up in late New York trade.

``Ahead of tomorrow's option expiry, we look for gold to range trade around $275,'' said one dealer.

``The market will otherwise be watching currency to determine gold's next direction.''

Friday's central bank intervention to prop up the euro had given spot prices a boost, and dealers said that if the currency regained $0.90 this could act as a catalyst for gold to retake $280.

``A more stable European currency is having a positive impact on the physical activity,'' said one Swiss trader.
cont
biz.yahoo.com



To: long-gone who wrote (58894)9/26/2000 8:32:32 AM
From: Rarebird  Read Replies (1) | Respond to of 116762
 
Yahoo's weighting in the NDX is only about 1.3%. That is small when you compare it to CIEN, CSCO, JDSU, MSFT, NXTL, ORCL, QCOM, SEBL, SUNW, VRTS and INTC. Earnings Preannouncements and mutual fund tax selling will be ending shortly. Moreover, a declining NDX hasn't helped the Gold Stocks at all as of late. Neither has a higher POG.

The Gold Bear has indeed been brutal.