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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (3136)	2/4/2003 1:40:04 AM
From: 4figureau	Respond to of 5423

Gold soars to 7-year high in Asia ahead of Powell speech Spot gold soared to a seven-year high in early Asian trade on Tuesday ahead of a key speech by US Secretary of State Colin Powell. Gold was bid as high as US$374.25 an ounce - a peak not scaled since December 1996 - before easing back to US$373.75/US$374.50 by 0106 GMT. The rise came after speculators poured money into gold futures on the Tokyo Commodity Exchange, pushing the benchmark December gold contract up 13 yen at 1,450 yen per gram on heavy volume of almost 70,000 lots. Mr Powell is to present evidence to the UN Security Council on Tuesday which the US says will show Iraq is hiding banned weapons from UN arms inspectors. channelnewsasia.com