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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (31993)	1/24/1998 12:06:00 AM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 61433

There was someone on this thread indicating gold was going to go back up. This indication was made about two weeks ago. See the following: Gold Market Springs to Life, Settling Above $300 an Ounce An INTERACTIVE JOURNAL News Roundup Gold futures rose above $300 an ounce on Friday for the first time in two months as the dollar weakened against major currencies, making it cheaper to buy and hold the precious metal. A continued fall in the U.S. dollar accelerated inflation-hedge buying, pushing the active February gold contract up $9 to settle at $300.30 an ounce on the Comex division of the New York Mercantile Exchange. Precious metals surged early Friday after a large fund house bought heavily into the market, producing a "domino effect" of buying interest, analyst Joe Rosta at CPM Group said. "We saw increased demand from institutional and small investors moving assets back into gold," Mr. Rosta said. Market participants said allegations that President Clinton had an affair with a White House intern and asked her to lie about it have shaken investor confidence overseas in the dollar. And with other world currencies still shaky from the effects of the Asian economic crisis and the U.S. stock market treading water, precious metals are once more being eyed as a good investment tool. "We need the continued uncertainty in currency markets and equity markets for gold to continue to climb," Mr. Rosta noted. Gold prices have climbed nearly 7% in just two weeks after hitting their lowest level in more than 18 years amid concerns about waning investor interest and heavy central bank sales. Silver futures also rose sharply amid continued diminishing inventories in Nymex warehouses, Refco analyst James Steel said. Stocks fell to 107.5 million ounces, down 1.06 million ounces Thursday, the exchange reported, to the lowest since June 3, 1985.