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

To: goldsnow who wrote (22695)	11/6/1998 7:04:00 PM
From: Bobby Yellin	Read Replies (3) \| Respond to of 116753

threats of protectism? *probably just threats biz.yahoo.com

To: goldsnow who wrote (22695)	11/6/1998 7:21:00 PM
From: Don Green	Read Replies (2) \| Respond to of 116753

Gold, silver and platinum and palladium prices all ended marginally lower in New York Friday on light volumes after after good gains in the past two days. "Gold and silver still both look OK, with silver closing above $5.00 again, but I wouldn't want to be too bullish on either metal," said Scott Meyers, an analyst with Pioneer Futures in New York. In the past two months gold prices have recovered from a 19 year low around $270.75 an ounce. Demand for gold in Japan triggered by last month's fall in the dollar/yen rate was surprisingly strong, traders said Friday. Sales of gold investment products in Japan in October were about 10 to 15 tonnes compared with 7 to 8 tonnes in September, according to the World Gold Council. Elsewhere, news that Mongolia's central bank has bought more than seven tonnes of gold so far in 1998 was encouraging for gold, especially after Canada's central bank said it had sold 68,000 ounces of gold, one tradersaid. "Funds are still short in platinum and the same investment bank that has been buying gold this week is selling platinum, so a further test of the downside looks likely," said Ralph D'Esposito, a COMEX floor trader with RJ Futures. Platinum prices have been recovering this week from their lowest levels in seven years seen last week. Platinum prices had been pressured by ample supplies from South Africa and Russia.