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 (20953)	10/7/1998 10:30:00 AM
From: lorne	Respond to of 116825

Asia Precious Metals Review Spot gold rises on weak dollar/yen 10/07/98 04:32 ET <Picture> <Picture> Tokyo--Oct 7--Spot gold rose today from late US trade on weak US Some Japanese dealers have continued bullish on gold on the weak dollar/yen and expectations of a fall in US stock prices, dealers said. Also, fears of IMF gold sales in the near term faded after German Bundesbank Vice President Juergen Stark early this week said the gold sales so far had not been discussed at this year's IMF-World Bank meeting, dealers said. This also helped encourage buying on gold in Asia amid weak US dollar/yen, they said. But, some dealers remained reluctant to open long positions on gold because of continued fears of IMF gold sales, Japanese dealers said. They expect spot gold unlikely to rise to above $300 per ounce in the near term given that investment funds already covered most of their short gold positions. Dealers in Hong Kong expect spot gold to remain volatile later today, ranging from $293 to $300 per ounce. A rally overnight in the US market led spot platinum firmer today, dealers said. On the Tokyo Commodity Exchange, heavy short-covering and speculative buying sustained the platinum contract prices at above 1,400 yen per gram although selling triggered by weak dollar/yen pressured the price, dealers said.