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

To: long-gone who wrote (69138)	5/14/2001 3:26:54 PM
From: Tom M	Read Replies (1) \| Respond to of 116912

long-gone, came across an article in progress about the history of executive order abuses which isn't too hard too tie in to the recent articles on the ESF and the Gold market. Need ESF --> Declare "war" on gold. (author tells story to try to make history less dry): backwoodshome.com site also has a quick read w/comments from Ayn Rand about past media bias that sure sounds familiar. "A history lesson from Ayn Rand ": backwoodshome.com also has a couple articles on panning gold.

To: long-gone who wrote (69138)	5/14/2001 3:50:33 PM
From: goldworldnet	Respond to of 116912

Gold rallies ahead of BoE auction LONDON PALLADIUM set a new 10-month low in afternoon European trade on Monday, while gold attempted to rally ahead of Tuesday’s Bank of England gold auction, with traders cautious not to push prices too high. Spot gold prices staged a modest rally in the second half of the day, with market players wary not to play big numbers ahead of the Bank of Englang gold auction on Tuesday. "Many people are nervous now in the market because tomorrow we will have both an auction and a possible US rate cut, which could make forwards more expensive," a trader said. The sale will put 20 tonnes of gold in the market. "If lease rate go higher, gold prices might go higher too," he added. By afternoon, spot gold was indicated at $268.0/$268.5, slightly higher than Friday’s New York close at $267.8/$268.3. "The market is a bit bullish now but traders are forcing themselves not to buy too much. They are waiting until Tuesday before making any major move," a trader said. Silver was last indicated at $4.35/$4.37, versus New York close of 4.33/4.35 while platinum was at $602.00/$609.00. down from the last close of $606.00/$612.00. By afternoon, spot palladium was trading lower at $625.0/$640.0 from Friday’s New York close at $645.0/$660.0. Copper heads lower London: Aluminium took centre stage in the London Metal Exchange’s busy open-outcry rings on Monday as players scrambled to borrow cash metal for the exchange’s key "third Wednesday" prompt delivery date. Three-months aluminium ended the morning rings at $1,520 a tonne, down $8 from its kerb close on Friday. The price had begun to sag in between the LME’s two morning rings, trading as low as $1,513, before the cash bidding gave it some extra strength. Copper was also busy, though less so than aluminium as cash pricing also pulled its three-months price lower. Much of the other borrowing interest was centred on July and August and nearby spreads mostly retained their contango structure. Three-months copper ended the morning rings $16 lower at $1,667 a tonne and the price was drifting as kerb trade opened. The LME’s other metals were quiet by comparison, with little effort made by nickel to follow through on its recent fund-led strength which saw it push through and hold above resistance at $7,000 on Friday. Nickel was barely traded in the morning rings and was indicated $155 lower at $7,125/55. Resistance is now pegged at $7,440 and the metal is now seen as technically overbought. Lead was indicated at $475/476, down $3, and tin was $25 lower at $5,060. Zinc was down by just 50 cents at $975.5, while alloy lost $10 to $1,270. IPE Brent drifts lower London: IPE Brent crude futures turned moderately negative after a firmer start on Monday, dragged lower by another sell-off in US gasoline, traders said. By afternoon, June Brent stood 19 cents lower at $28.0 a barrel, the day’s low so far but well off key support at $27.5. Almost 5,000 lots had been traded on the contract. The June/July contago was three cents wider at 11 cents a barrel, reflecting bullish forward sentiment, while the July/August backwardation expanded 14 cents to 68 cents. June Nymex crude was off 34 cents at $28.2 a barrel, maintaining a premium of 26 cents a barrel over Brent. June gas oil stood at $228.8 a tonne, ceding $1 a tonne in sympathy with the Brent slide. (Agencies) economictimes.com * * *