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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: TD who wrote (913)	3/16/1998 9:48:00 PM
From: TD	Respond to of 8010

The gold and silver markets were considerably more subdued with COMEX May silver losing 4.0 cents to $6.095 an ounce, despite the disclosure of Warren Buffett's Berkshire Hathaway's commodity positions over the weekend. Berkshire Hathaway said in its annual letter to shareholders that it earned $97.4 million ion pre-tax profit from purchasing 111.2 million ounces of silver. In early February, Buffett announced that he had long positions totaling 129.7 million ounces of silver. This would imply Buffett has yet to take delivery on 18.5 million ounces, if, as he said in his initial statement in early February, he has no plans for the purchase or sale og silver. "The market didn't seem to care too much about Buffett's disclosure," said one trader. "We still can't seem to break below $6.00 an ounce or above $6.40 in any meaningful way." In the bullion market, spot silver was $6.10/3 an ounce, compared with the late London fix, which was $6.1175 an ounce. Silver warehouse stocks fell 1,386,149 ounces to 90,503,725 ounces, while gold stocks fell 296 ounces to 478,090 ounces. Trendline resistance in the May contract is at approximately $6.30 an ounce. Perhaps with 18,500,000 ounces to be delivered about 3700 contracts things still may heat up soon?