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

To: Ahda who wrote (24816)	12/22/1998 6:55:00 PM
From: Don Green	Read Replies (1) \| Respond to of 117029

Gold prices ended lower Tuesday, for the fifth day in a row, as the trade winds down for the end-of-year holidays, amid ongoing concern about the fate of European central bank gold reserves. "In regard to the European Central Bank, we do not anticipate their policies will provide any meaningful incentives to change the overall outlook for gold," said Bill O'Neill, director of commodities research for investment bank Merrill Lynch in NewYork. The European Central Bank (ECB) is expected to announce guidelines on reserve management for the eleven central banks which are participating in European Monetary Union (EMU) before year-end. But the gold market remains concerned that more European central bank reserves may be sold after the introduction of the single European currency from January 1, 1999, analysts said.