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

To: PaulM who wrote (27608)	2/2/1999 8:44:00 PM
From: goldsnow	Respond to of 116791

The ECB chairman Duisenberg said that the role of gold in the Central Bank reserves is to help prop up currencies when necessary, thereby inferring a "financial use" for gold. With this type of seemingly positive news, one would have expected some kind of small rally out of gold. However, when markets can't rally on a seemingly endless stream of "bullish" news, expect weakness around the corner. It seems that the bears are still in charge overall. Even with recent small gains, the path of least resistance continues to be lower. The key nearby technical area for the bulls to watch is 292.1, as 2 consecutive closes above that could cause a bounce through 295 and a stab towards the 308 area. The bearish head and shoulders that formed is too messy now and is negated. The overall price trend continues lower as bears are still in charge, but bulls could take over on closes above 291.1. >> investorlinks.com