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

To: goldsnow who wrote (9077)	3/31/1998 6:26:00 AM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116759

ML setting up offices in Japan suggests the bottom there is close.. gold usually goes the direction of Japan.. I think the government is being really silly about plastic money(is that good for oil)...it may remind too many people of credit cards .. I laugh when I hear analysts mentioning that gold's latest performance may suggest some incipient inflation..I guess that is what most only view gold as..a hedge for inflation..(I guess they don't read our thread).. anyways we probably wont have a warm winter, Asia will probably be turning around..oil will follow.. I think you're right about copper.. copper is a leading indicator.. (I guess Russia doesn't have more commodities to dump on the market which probably created previously the oversupply and ceiling on prices) philosophically..I guess you are right..survival on the earthly level dictates for the most part..I guess when times get very hard people group together since they think if all help times will get better..

To: goldsnow who wrote (9077)	4/1/1998 6:15:00 PM
From: goldsnow	Respond to of 116759

FOCUS- Gold eyes decision on Euro Cenbank reserves 11:53 a.m. Apr 01, 1998 Eastern LONDON, April 1(Reuters) - The strength of the dollar continued to weigh on both gold and silver with the bullion market reluctant to give way to bulls ahead of the European Central Bank's gold reserve decision. Base metals took a hit and eased in afternoon trade led downward by aluminium. A London gold dealer said the market was unlikely to move too far until the European Central Bank and its planned member countries made clear how much gold would be used to underpin the euro. ''Most people are building up to what's going to happen with the European Central Bank. I think that's the crucial question and we are looking for the end of May for a decision,'' said a dealer. Gold closed at $300.30/$300.80 an ounce compared to New York's Tuesday close at $300.70/$301.20. Silver closed at $6.42/$6.45 an ounce from the previous close at $6.50/$6.53. Platinum group metals (PGMs), were little affected by news out of Tokyo that Japan's domestic vehicle sales fell 20.7 percent from a year earlier to 658,997 units in March. Prices for platinum and palladium, both heavily used in the manufacture of car catalysts to cut exhaust emissions, have been pumped higher this year in the absence of exports from Russia. Platinum closed at $406.00/$408.00 an ounce up versus its previous New York close at $404.50/$406.50 while palladium closed at $270.00/$272.00 an ounce from its previous close of $269.60/$271.60. All base metals were down on the London Metal Exchange (LME) with aluminium taking the biggest fall after a fund-based sell-off in the afternoon caused losses in some other markets as the herd instinct kicked in. Aluminium closed at $1,418.50 compared to previous of $1,447.00 a tonne. LME copper eased in the afternoon pulled down by aluminium after making some headway earlier as the strike at the Rudna mine in Poland, owned by KGHM Polska Miedz SA (KGHMs.WA) continued, and may escalate after two other mines in the group said they would hold strike votes. LME copper stocks, down by over two percent already this week, were expected to continue falling, especially from European warehouses, traders and analysts said. Copper closed in London at $1,732.50 a tonne down from Tuesday's close at $1,772.00. In soft commodities, sugar fell after a larger-than-expected tonnage was awarded at the weekly European Union white sugar export tender, while cocoa slid back after trying to build on Tuesday afternoon's rally. ''It was either industry or maybe someone with a bit of cocoa finally coming through at last,'' one trader said, explaining the selling. Coffee was also down on hopes that talks between Colombian truckers' leaders and transport ministry officials, scheduled to start after the close of London trade could end a strike. The strike was called at the start of last week and has held up exports at two ports. ''We hope that by this afternoon or this evening the strike will be resolved definitively,'' a transport ministry spokesman told Reuters. ''The most difficult point has been solved but there's still discussion on the vehicle registration freeze.'' Some commodity prices at 1715 GMT - Wednesday Tuesday Ldn Spot Gold($ per ounce) 300.55 300.75 IPE Brent Crude Oil (May) 14.09 14.40 London Metal Exchange (3 mths delivery) Copper ($ per tonne) 1,731.00 1,772.00 Aluminium ($ per tonne) 1,415.00 1,447.00 LIFFE Coffee ($/tonne)(May) 1,817.00 1,841.00 Cocoa (Stg/tonne) (May) 1,054.00 1,070.00 White Sugar ($/tonne May) 265.60 266.80 Chicago Board of Trade Wheat May ($/bushel) 3.17 3.21 -- London Newsroom, +44 171 542 4985 Copyright 1998 Reuters Limited.