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

To: Sergio R. Mejia who wrote (16905)	8/29/1998 1:05:00 PM
From: goldsnow	Read Replies (3) \| Respond to of 116816

What is happening we are entering the race of what would plunge faster Dollar or Gold (important to remember which one is at historic low and high... More so very soon oil may start to rize if dollar continue to fall ... Dollar Tumbles vs Mark on Stock Rout, Rate Concern By Malcolm Foster and Siobhan Almond New York: The dollar had its biggest loss against the mark in three years and tumbled against other European currencies, as U.S. stocks fell and on concern the rout in global markets could prompt the Federal Reserve to cut interest rates. The dollar fell 4 pfennig to 1.7590 marks, its worst day since Sept. 21, 1995. It fell more than 2 percent versus the Swiss and French francs and 1.9 percent versus the British pound. ''There's complete uncertainty about where to turn, where to invest, what is safe haven and what isn't,'' said Maureen McFarland, currency strategist at MacKay Shields Financial Corp. ''People are saying 'Look what's happening around the world. The Fed is going to ease.' That's going to bring the dollar down.'' The dollar's drop against the mark brought it to a three-month low in late New York trading from 1.7988 yesterday. It was little changed at 141.77 yen, after rising as high as 144.25 yen, from 141.99 yesterday. For the week, the dollar fell 2 percent against the mark and the yen . bloomberg.com