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.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (143167)	6/19/2002 2:48:47 PM
From: GST	Read Replies (1) \| Respond to of 164684

"If gold resumes its runup and keeps going, that may well happen" I agree. We are near a crossroads IMO -- only time will tell.

To: Victor Lazlo who wrote (143167)	6/19/2002 4:07:13 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

It's a crazy world we live in. I'll tell you this, I'll never move to the Middle East! NEW YORK, June 19 (Reuters) - COMEX gold was showing off above $320 an ounce early Wednesday, capitalizing on the woes of the dollar and global equities on new jitters about the Israel's response to the latest Palestinian suicide bombing. "It's basically all off the Middle East. This morning the Israelis announced they were going to take towns over with the suicide bombings," said a COMEX floor broker. "The Dow is down and the dollar is getting whacked a little bit. That just just helps the metals." August gold <0#GC:> was up $2 at $321.70 an ounce at 0927 EDT, trading from $320.00 to $323.00. Spot gold <XAU=> was quoted at $320.85/1.35, up from $319.30/9.80 at Tuesday's New York close. London's morning fix Wednesday was $321.85. Israeli trucks loaded with mobile buildings rolled into the West Bank city of Jenin Wednesday, joining troops who moved in in the wake of Tuesday's bombing which killed 19 people on a bus in Jerusalem. Israel announced that it would respond to new attacks by retaking and holding Palestinian ruled areas. The dollar fell to a 17-month low against the euro early Wednesday at $0.9580 on the news, and Wall Street was bracing for an ugly day. The Dow Jones industrial average was down 58 points just a few minutes into the session. Israel's military incursion into the West Bank in late March was a catalyst for gold's rally above $300. The weak dollar fed the move, which topped at $331.50 two weeks ago, as overseas investors looking for safe havens found gold more attractive in local currency terms. "The movement in the forex (market) will have profound effect on the gold price, should such continue, and the bull market in gold looks quite certain," wrote Leonard Kaplan, president of Prospector Asset Management, in his daily market commentary. COMEX July silver <0#SI:> was up 3.5 cents at $4.88 an ounce, tracking gold in a $4.855 to $4.915 range. Spot silver <XAG=> stood at $4.87/89, up from $4.85/87 late Tuesday. Silver was fixed in London at $4.895. NYMEX July platinum <0#PL:> was up $2.70 at $568.50 an ounce. Spot platinum <XPT=> stood at $565/572, hitting $567, its highest since July 11, 2001. Platinum buying was fueled by Asia where TOCOM platinum futures rallied on stop-loss buying on the back of a skidding Nikkei stock index. September palladium <0#PA:> was up $2.50 at $337 an ounce recovering from Tuesday's contract low at $330. Spot palladium <XPD=> was quoted at $335/342. ((Alden Bentley, New York Commodity Desk, 646 223 6041, nyc.commods.newsroom@reuters.com))