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

To: long-gone who wrote (27902)	2/8/1999 9:14:00 PM
From: banco$	Read Replies (1) \| Respond to of 116753

Good GATA catch, thanks - biz.yahoo.com

To: long-gone who wrote (27902)	2/9/1999 5:50:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116753

Gold trapped back in range, silver pausing 06:54 a.m. Feb 09, 1999 Eastern LONDON, Feb 9 (Reuters) - Gold sat in the middle of its $3.00 range above $286.00 during early European trade on Tuesday, capped by producer and fund sales overhead with decent physical demand underneath, dealers said. Silver softened slightly below $5.60 a troy ounce, further still from last week's six-month high near $5.80 but with dealers remaining wary of what it might do next. London gold fixed at $287.65 a troy ounce in the morning, down from Monday afternoon's $288.85, having lost ground during Asia business overnight. Yen weakness, coupled with German and Swiss remarks reiterating the likelihood of future official sector gold sales, helped knock gold towards $287.00 during Asian business hours. German Finance Minister Oskar Lafontaine said in Brussels that Bonn would no longer oppose a partial sale of International Monetary Fund gold to help alleviate poor countries' debt. Meanwhile Swiss National Bank chief Hans Meyer said in an interview with the German daily Handelsblatt that the bank planned to pursue its proposal to sell roughly half of its 2,600 tonnes of reserve gold. While bearish for gold longer term, neither remark was enough to knock prices from their recent range. ''I think we're stuck with selling whenever we get above $290.00 and buying below $286.00,'' said one London dealer. The Australian dollar's weaker tone versus the U.S. unit after recent sustained strength, helped cap gold by reducing the prospect of Australian miner hedge buybacks, the dealer added. Spot gold was last quiet at $287.50/$288.00 versus its $289.25/$289.75 Monday close in New York. Silver was quiet again on Tuesday after its spirited rise last week, with easier forward rates again directing play. ''I don't think we'll see the same as last year when silver went crazy as the market is too wary and the fundamentals are not in place,'' said another London dealer in reference to last year's announcement by U.S. investor Warren Buffett of a 130 million ounce physical silver position. ''However, I don't think this move is over yet, so as long as we can hold $5.45/$5.50 area, we could see six bucks (dollars) soon,'' he added. Spot silver was last at $5.54/$5.56, seven cents below its Monday New York close. Platinum was up $1.75 at $353.75/$355.75 while palladium was $2.00 down on New York's close, trading at $343.00/$348.00. ((Patrick Chalmers, London Newsroom +44 171 542 8057. london.commodities.desk+reuters.com)) Copyright 1999 Reuters Limited.