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

To: Bobby Yellin who wrote (24263)	12/14/1998 7:48:00 AM
From: lorne	Respond to of 116997

London--Dec 14--The London Bullion Market Association said today that average daily cleared turnover for gold in November fell to 27.5 million ounces, down 23% on October levels. Cleared silver turnover dropped by just over 30% month-on-month to an average 169.1 million ounces, roughly half the levels seen a year ago, the LBMA said. Story .10400

To: Bobby Yellin who wrote (24263)	12/14/1998 12:25:00 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 116997

"...where are the profits coming to support the high pes of the Dow..." The Charge of the Long Brigade S & P, S & P, S & P onward, All in the Vally of Dow Rode the 500. "Forward, the long brigade! Charge into the funds!" he said: Into the valley of Dow Rode the 500. "Forward, the long brigade!" Was there an investor afraid? Not tho' the YK2... Some one had blunder'd: Theirs not to be alert, Theirs not to reason hurt, Theirs but to lose their shirt: Into the valley of Dow Rode the 500. Bank runs to right of them, Bad funds to left of them, Stocks shunned in front of them Volley'd and thunder'd; Crashed and all shot to hell, Boldly they peaked and fell, Into bear claws pell-mell, Throughout the pits they sell Unloaded the 500. Flash'd all their savings bare, Flash'd as if holding air, Bringing more funds to despair, Charging and margined, while All the world wonder'd: Plunged in the market downstroke. Of red at the bottom line they spoke: Brazil and Russia Boomed, banged, and broke Shatter'd and sunder'd. Yet some cash remained intact, but not, Not in the 500. Metals to right of them, Bear-X to left of them, Midas behind them Volley'd and thunder'd; Stormed at with cascading sells, While all of the S & P's fell, They that had performed so well Came cash outflows with Dow, Back from the mouth of Hell, All that was left of them, Left of 500. When can their PE's fade? O the wild charge they made! All the world wonder'd. How 31.29 displayed! Honour this Long Brigade, Noble 500. --Pennyless Son

To: Bobby Yellin who wrote (24263)	12/14/1998 6:00:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116997

Crude, Products Rise Sharply Monday, 14 December 1998 (AP) CRUDE OIL futures rose sharply Monday on the New York Mercantile Exchange as officials from Saudi Arabia, Venezuela and Mexico set a meeting for this week, raising hopes the three oil-producing countries will cut output further to ease a glut. On other markets, pork futures rose sharply, while soybeans fell sharply. Crude and its byproducts jumped in heavy trading ahead of Thursday's meeting in Madrid of three of the top exporters of oil to the United States. Crude prices had been closing in on all-time lows for futures trading amid signs world oil producers were loathe to slash demand despite tumbling prices. The Organization of Petroleum Exporting Countries this year reduced daily output by 2.6 million barrels in the face of a supply glut and sharply lower demand from Asian and Russia. Other oil producers chipped in with cuts, bringing the total to 3.2 million barrels daily, but the pledges to date have not been met with 100 percent compliance. And increased shipments from Iraq under a U.N.-sponsored oil-for-aid plan largely negated the effects of the cuts. Market participants now are hoping the president-elect of Venezuela, Hugo Chavez, will enforce production targets in his country, which has been exceeding its pledges. They also hope the three, who have spearheaded two production-cut initiatives this year, will present a viable plan for boosting prices. Natural gas futures rose sharply as forecasters predicted below-normal temperatures finally will arrive in the key Midwestern heating region by the end of the week, which is likely to spur demand after a fall that has seen unusually warm temperatures. Light, sweet crude for January delivery rose 50 cents to $11.29 a barrel; January heating oil rose 1.21 cents to 32.71 cents a gallon; January unleaded gasoline rose 1.15 cents to 35.49 cents a gallon; January natural gas rose 9.4 cents to $1.952 for each 1,000 cubic feet. Lean hog futures jumped 7.1 percent on the Chicago Mercantile Exchange amid some speculation the worst of a national pork glut has passed. Some investors were betting that after a period of record slaughterhouse operations in which producers sold their pigs for the lowest prices in 50 years that they will sharply reduce their herds in coming weeks because of poor profit potential. Pork futures have fallen sharply in the past few months as weak export demand takes its toll on those who ramped up production in the last two years following sharply higher prices. February lean hogs rose 2 cents to 30.07 cents a pound; February pork bellies rose 2.47 cents to 44.17 cents a pound. Soybean futures tumbled on the Chicago Board of Trade, pressured by expectations that ample weekend rainfall in southern Brazil aided crops there. Brazil is the world's second-largest soybean grower behind the United States, and the southern region is its most important for delivering bumper crops. With forecasters predicting more South American rains this week, which are relieving drought-stressed crops and making soil moist enough to plant, market participants are concerned about potential export competition at a time when U.S. supplies are plentiful and world demand is relatively weak. January soybeans fell 6 cents to $5.52 1/4 a bushel.