Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (13981)	6/30/1998 9:54:00 AM
From: William JH	Read Replies (1) \| Respond to of 116796

Richard - Thanks for the link. AP had a story on Lead, S.D., which was carried in our local paper. Production at the 120 year old gold mine there has been cut back, resulting in layoffs, etc. From what I'm reading, only low cost mines are profitable now. Not a good situation for a lot of miners.

To: long-gone who wrote (13981)	6/30/1998 6:23:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116796

Gold higher on weaker dollar, seen steadier 11:37 a.m. Jun 30, 1998 Eastern LONDON, June 30 (Reuters) - Gold prices rose in European trading on dollar weakness, and are expected to edge higher, dealers said on Tuesday. Gold was last quoted at $296.80/$297.30 an ounce, up from Monday's New York close at $293.40/$293.90. Bullion also fixed higher in London in the afternoon at $296.30, against the morning fix of $295.75. Dealers said the weaker dollar had contributed towards the higher move, while news that a U.S. warplane had launched a missile against an Iraqi radar post had also lend support to gold. ''There is potential for it to go higher with the dollar weakening,'' one dealer said. ''There has been some good short covering today but we ran into a bit of selling when gold reached $298.00,'' the dealer said. Other dealers said a relatively stable South African rand also contributed to gold's gains, adding that bullion might aim higher. ''It should hold its levels and maybe try to go higher later on, the dollar/yen has still not recovered from the lows,'' another dealer said. He said gold was seeing resistance at the 200-day moving average of $298.00/$298.60. ''If it breaks through that, you can see it trying for $300.50/$301.00,'' the dealer said. Gold ignored news from Russia that one of Russia's largest banks, Rossiisky Kredit Bank, planned to export around 8.5 tonnes of gold in 1998. Silver also edged higher and was last quoted at $5.35/$5.38, from the New York close at $5.32/$5.35. Platinum gained in European trade and was last quoted $8 higher at $358.00/$360.00. ''It was probably a bit of short covering after the price got to around $350.00, and it started to move higher on gold going up,'' another dealer said. Palladium was last quoted lower at $287.75/$297.75, from the close at $290.00/$300.00. ((Marius Bosch, London newsroom +44 171 542 8065. Fax +44 171 542 8077. london.commodities.desk+reuters.com)) Copyright 1998 Reuters Limited