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

To: Bobby Yellin who wrote (5350)	1/7/1998 9:18:00 AM
From: JD	Read Replies (1) \| Respond to of 116753

Gold stabilizing? ... up .80 overnight. Snippets from bloomberg 01/07/98 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dollar Drops Before U.S., Japanese Officials Meet in Washington The dollar slid against other major currencies amid speculation Japanese and U.S. officials meeting in Washington today may discuss coordinated sales of the U.S. currency to curb its gains. Japan's Vice Finance Minister for International Affairs, Eisuke Sakakibara, will meet Federal Reserve Chairman Alan Greenspan and Treasury Secretary Lawrence Summers. The gathering in Washington follows meetings yesterday in London between Sakakibara and U.K. treasury officials. The dollar has fallen more than a yen from Tuesday's 5 1/2-year high of 134.33 as the Bank of Japan sold dollars and Finance Ministry officials warned action will be taken to shore up the yen. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ U.S. Bonds Fall Amid Skepticism About Price Deflation U.S. bonds declined as investors grew skeptical that widespread deflation and declining interest rates are likely. Bonds rose Tuesday and Monday after Federal Reserve Chairman Alan Greenspan warned of the possibility of price deflation, suggesting to some traders and investors the Fed's next move may be a rate cut. The benchmark 30-year Treasury bond fell about 1/2, or $5 per $1,000 bond, pushing its yield up 3 basis points to 5.75 percent. The two-year note's yield rose 2 basis points, to 5.40 percent.