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Mix-Ansicht- GOLD: buyers will get nervous, but they won'tpanic just yet - pecunia, 15.05.2002, 08:57
GOLD: buyers will get nervous, but they won'tpanic just yet
Source: South China Morning Post
Publication date: 2002-05-14
GOLD
European gold got off to a steady start in
relatively quiet trade yesterday but with foreign
exchange markets governing any moves, the
yellow metal was expected to continue to gain
support from the US dollar's woes.
As worries over United States asset markets
and the strength of the US recovery returned
to the fore to put the dollar on the defensive,
gold rose above US$311 an ounce as subtle
buying interest buoyed prices.
"It's all quite lacklustre. There is some buying
interest but we are at the crucial $312
resistance level and if we go through there,
then buyers will get nervous, but they won't
panic just yet," a trader said.
At mid-session, London spot gold was at
$311.10-$311.60, compared with New York's
close of $310.80-$311.30 on Friday. The metal
was fixed at $311.60 from $311.15 previously.
In Hong Kong, gold rose yesterday to close at
US$311.50-$312 an ounce from Saturday's
$310-$310.50 and to HK$2,893 a tael from
$2,884.
Publication date: 2002-05-14
<ul> ~ South China Morning Post zu Gold</ul>
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