Gold continues UP $275 + up 10% since July - Gold mines to follow.

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If you have money & want more - nows the time - this train is leaving. Major announcement by G7 started the ball today.

-- goldbug (Goldbug@mint.com), September 26, 1999

Answers

Gold futures extended their strongest rally of the year Friday on the New York Mercantile Exchange, registering a 5 percent gain for the week as traders' confidence in the battered metal grew.

Palladium and platinum prices sank in response to gold's rise. In other markets, wheat futures advanced significantly and pork bellies soared 5 percent higher.

Gold snapped out of an extended slump last Tuesday after an auction of British reserves drew higher-than-expected prices. The rally continued for a fourth day, sending prices to their highest level since March at $272.40 an ounce before settling back slightly.

Gold for December delivery closed up $2.50 at $269.80 per troy ounce on the Comex division of the New York Merc.

Prices remain down 6 percent for the year, a decline attributed to central banks dumping their reserves for more attractive investments. But traders and analysts said the rally doesn't appear to be out of steam yet, and Friday's rise came on greatly increased trading volume over the lackluster levels of a week ago.

``The U.K. auction certainly acted as a catalyst,'' said James Steel, an analyst for Refco Inc. in New York. ``There were a lot of producers and consumers represented, rather than speculative elements, which is very bullish.''

While not exactly embracing gold as in years past, investors may also be reacting to the slide in the U.S. stock market this month, he said.

Platinum and palladium fell sharply in thin trading - their declines blamed on a flight into gold.

October platinum fell $5.60 to $368.40 an ounce on the New York Merc; December palladium fell $5.55 to $358.40 an ounce.

-- Uncle Bob (UNCLB0B@Y2KOK.ORG), September 26, 1999.


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