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

To: lorne who wrote (27636)	2/3/1999 8:45:00 AM
From: Francois H. Gaston	Respond to of 116791

WSJ today: ...."SILVER: Prices spiked on the New York Mercantile Exchange's Comex division, putting in their second consecutive day of strong gains. The nearest-month March contract rose 16 cents to settle at $5.468 a troy ounce, its highest close since July 30. Traders said heavy borrowing of the metal in London forced some traders with short, or selling, positions to buy. That in turn brought in buying interest from funds and consumer buyers. In addition, Comex warehouse stockpiles of the metal have fallen over the past week. Dinsa Mehta, managing director of global commodities at Chase Manhattan, says in the past few months silver's rallies have followed a pattern. "Comex stocks get depleted, silver gets tight in the London market, and then silver goes pop but fizzles" in the end, he said. However, he notes the tight supplies this time are for metal for delivery further in the future rather than soon. "That's led people to ponder whether maybe something else is happening," he said.".....