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

To: Challo Jeregy who wrote (18970)	9/15/1998 6:43:00 PM
From: Don Green	Respond to of 116764

Precious Metals Report for Tuesday, September 15, 1998 New York precious metals futures ended mostly lower Tuesday, continuing to take their marching orders from the dollar, which rebounded toward the end of the session. "We're essentially just trading off the dollar-yen," said one gold trader. "The dollar was weaker early in the session. Then it rebounded toward the end of the session. And we moved right alongwith it." Fears of a collapse in Latin American economies were allayed by President Clinton's call for coordinated interest rate cuts to stimulate the economy, leading to a rise in the dollar. "It still appears that the heightened volatility in the global financial markets has not triggered a significant shift in investor capital into gold as a safe-haven asset," said David Rinehimer, analyst with Smith Barney, in his September 10 report. "We would expect gold prices to closely track the U.S. dollar," he said. "Still, the increasing possibility of slowing world economic growth and increasing deflationary expectations, coupled with ample supply from central banks, suggest that a sustained rally in the gold price is unlikely."