GoodMorningHonus&wwatson1,
Honus,
Read4U:
Gold gains in Europe as investors lose heart in Wall Street
Reuters February 05 2002 at 07:25PM-->
February 06 2002 at 08:18AM
London - Gold climbed to its highest level since end-September in Europe yesterday as investors lost heart in the falling US
stock market, traders said.
Wall Street equities opened lower on brokerages' negative comments about technology companies. Stocks fell to three-month
lows on Monday amid nerves over the collapse of US energy giant Enron and accountancy worries.
In early afternoon trade, the metal oscillated around resistance at $292 an ounce. The key $300 level, last breached two
years ago, seemed in sight. "I really am getting quite bullish. It's going to $300 this week," a trader said.
Gold fixed at $291.95 yesterday afternoon, up from the morning fix of $290.35. This was its highest fix since reaching
$293.10 on September 28.
Silver rose gently and is seen tracking bullion's price movements in the short term. It has gained about 15c in recent days and
yesterday the spot price was $4.36/38, up 7c on the previous close. Silver is seen trading in the $4.35 to $4.40 range in the
short term.
Platinum group metals were relatively stable amid low physical demand. Spot platinum was last indicated at $452/$457,
unchanged from the New York close on Monday. Palladium was at $360/$370, against $367/382 at the previous close.
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