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

To: Bobby Yellin who wrote (19241)	9/18/1998 11:41:00 AM
From: Giraffe	Respond to of 116766

Friday September 18, 11:21 am Eastern Time Gold choppy in Europe as Dow posts gains LONDON, Sept 18 (Reuters) - Gold traded in a choppy range in late European business on Friday as the market continued to track movements in the Dow Jones index and other global equity markets, dealers said. Gold was last quoted at $290.90/$291.40 an ounce, from the previous close in New York at $290.70/$291.20. Dealers said bullion spend the day trading in a choppy range but they reported good two-way business. ''It has been choppy all day. There has been a fairly good lot of two-way business going through, we had funds buying and selling and probably a little bit of producer stuff out of Australia,'' one dealer said. He said gold looked comfortable trading in a range between $287.00 and $292.00. ''People are still watching the same things as before, namely the stockmarkets. Stockmarket jitters cause gold to rally and stockmarket rallies cause gold to sell off,'' the dealer said. The Dow Jones industrial average was just higher by 1443 GMT. It was up around 2.58 points. The dollar strengthened on the back of the Dow's gains and was higher against the yen and the German mark. Dealers said the outlook for gold remained closely linked to that of the global equity markets. They said if gold moved above the $292.00 level, it will attract further producer selling while there remained a lot of selling to be done when bullion reached the $295.00 level. Silver was quiet and last quoted at $4.96/$5.00 from the previous New York close at $4.98/$5.01. ''If we do see silver pop up with gold, we might see some stops go through and silver around $5.02 and $5.03,'' one dealer said. Palladium edged higher and was last quoted at $289.00/$294.00 against the previous New York close of $287.75/$292.75. Dealers said the white metal could be reacting to news reports that the Russian Central bank had started a reorganisation of the bank and those in charge of its precious metals. Platinum was quoted lower at $358.00/$360.00 an ounce against the previous New York close at $363.00/$365.00. --------------------------------------------------------------------------------