|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>Just a few notes on what's happening around the
world while you have been sleeping...</FONT></DIV>
<DIV><BR>In the enclosed gif you can see what Ashanti Goldfields said on Friday
and what they did the next trading day (monday).</DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>Rgrda</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>stig</FONT></DIV>
<DIV><BR>>MAD BOTTLENECK IN AUSTRALIAN GOLD MARKET <BR>><BR>>Sydney,
Oct. 5 (Bloomberg) -- Gold rose 4 percent to a <BR>>two-year high in Asia as
speculators, producers, <BR>>investment fund managers and banks raised bids
to buy <BR>>the precious metal in a rally that's seen the price <BR>>jump
22.4 percent in nine days. <BR>><BR>>Gold for immediate delivery rose as
much as US$13.15 an <BR>>ounce, or 4.1 percent, to US$330.50 an ounce in
Sydney <BR>>interbank trading, the highest price since October <BR>>1997.
<BR>><BR>>Dresdner Kelinwort Benson bullion trader Paul Lee said
<BR>>he's never seen anything like the move to buy gold to <BR>>cover
forward and futures positions in his 10 years of <BR>>gold trading.
<BR>><BR>>"It's like there's a fire and everyone's running toward
<BR>>the same exit door. We have banks, producers, hedge <BR>>funds all
wanting to do the same thing at the same <BR>>time. We are seeing a supply
bottleneck. Producers are <BR>>backing off from selling. They are standing
aside and <BR>>not selling any more," he said.
<BR>><BR>>-END-<BR><BR></DIV></BODY></HTML>
</x-html>
Attachment Converted: "c:\eudora\attach\ashanti.gif"
|