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Chris:
Many thanks. Very comprehensive and
helpful!
John
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Chris
Schaaf
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, September 12, 2001 9:55
AM
Subject: Re: [RT] Gold
Europe Precious Metals Review: Gold nervous, awaits UK
auction
Sep. 12-MAR--
By Andrea Hotter London, Sept. 12 (BridgeNews) - Gold
prices became slightly morestable after a very volatile trading session in
Asia overnight, withmarket players taking what one trader described as a
"flight of safety"into the bullion market following the tragic terrorist
attacks in New Yorkand Washington Tuesday. Market players remained
extremely nervous, withconditions illiquid, and dealers said the pending
Bank of England goldauction later this morning will likely see an
increased subscription rateas a
result.
*
*
* Spot gold moved around the U.S. $280 per ounce level
for much of thesession having hit a high of $290 on the back of short
covering in Asiaovernight. Profit-takers are said to
have entered to keep prices more stablearound $280, with buying pressure
coming off as the U.S. dollarstrengthened and the market became more
stable. Traders said they expected the upside to ease in
the afternoon, butare cautiously watching the planned auction of the Bank
of England's 20tonnes of gold reserves at around 1215 BST. "Gold has
regained itsreputation as a safe haven," one dealer
added. Spot gold fixed at $279.50 from $271.40
previously. Platinum and palladium meanwhile saw little
trade although pricesgained strength from the rise in gold, with platinum
fixing at $455.00from $443.00 and palladium fixing at $465.00 from $455.00
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