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

To: long-gone who wrote (63115)	1/30/2001 5:10:29 PM
From: lorne	Read Replies (1) \| Respond to of 116752

DJ NY Precious Metals Mostly Up Late, Gold On Short Covering NEW YORK (Dow Jones)--Precious metals were trading mostly higher late Tuesday, with gold futures rallying on short covering by funds but not causing much concern at current price levels, participants said. The major supportive factor for gold was a decline in the consumer confidence index to 114.4 in January from 128.6 in December - the lowest reading since December 1996. "That ensured a 50-basis-point interest-rate cut by the Fed (Wednesday), and spurred a rally in the euro versus the dollar," said Bill O'Neill, director of futures research at Merrill Lynch. The euro hit a small bottom at $0.9125 and was looking more robust from a technical perspective, too, the chief bullion dealer at a New York bank said. At 2045 GMT, the euro was trading at $0.9265. February gold on the Comex division of the New York Mercantile Exchange finished trading $2.70 higher at $265.50 a troy ounce. thebulliondesk.com