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

To: Enigma who wrote (24879)	12/23/1998 9:07:00 PM
From: John Hunt	Read Replies (1) \| Respond to of 116956

Hi E, Here is a 10 day XAU chart. bigcharts.com Only that this was a big jump in the XAU after a 4 1/2 day downtrend. Something has changed ... I expect that the POG may start to rise tonight and/or tomorrow. IMHO, the rising interest rates are reflecting the weakness in the US Dollar as the Euro approaches. BWDIK, I am a TA-oriented engineer, not an economist ... Thank God < g > John

To: Enigma who wrote (24879)	12/23/1998 9:42:00 PM
From: Don Green	Read Replies (2) \| Respond to of 116956

Gold and silver prices ended lower Wednesday with the outlook for deflation and slower economic growth in some countries still weighing on the precious metals complex, traders said. But the prospect of another seasonal Russian supply interruption in the first quarter of 1999 continued to provide some support for platinum and palladium prices. "Gold saw some more light fund selling today, but after five days of declines, gold is probably a little oversold right now, and a year-end shortcovering rally would not be a surprise," said Scott Mehlman, chief bullion dealer at Credit Lyonnais Rouse in NewYork. Recent weakness in gold prices has been linked to news last week that the lower house of the Swiss parliament approved a constitutional amendment that would sever the Swiss franc's link to gold and allow the sale of 1,300 tons of gold reserves. But the legislation still has to pass through the upper house of the Swiss parliament next year and pass a popular referendum inthe year 2000. In addition, 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.