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Gold Mondays high $320.70

  1. bombadier

    2,271 Posts.

    Well well BULTANA, where's the bigmouth wife abuser who called us idiots for saying gold would break 320 and offering 5:1?

    Lucky for him he didn't have what it takes to either contact me or take the bet on. I would have preferred the former, since my chances of being paid may have been slightly under the odds he was spruiking.
    But then, I never expected him to take up my offer on either, did you?

    closes in 17 hrs. 4 mins.
    Jul 15, 2002 20:07 NY Time
    Bid 318.30
    Ask 318.80
    Change -1.30
    High 320.70 *******
    Low 316.20

    Here's a commentry:

    Gold prices climb as stock markets tumble
    By Adrienne Roberts and agencies
    FT.com site; Jul 15, 2002

    Gold prices climbed on Monday as the dollar lost ground and speculative funds thronged to the precious metal to shield themselves from steep losses in global stock markets.

    Spot gold rose $4 to $319.50 an ounce in European trade, its best since June 28, as the US dollar fell below parity with the euro for the first time since February 2000.

    Further steep losses on Wall Street and European stock markets also supported gold's move higher as funds sought a bolt-hole.

    Gold fixed at $319 an ounce in London afternoon trade. The metal reached a 2?-year high of $330.30 an ounce in June, but profit-taking took some of the wind out of its sails.

    "The risks of another sell-off in gold are limited as long as equity and US dollar weakness remain a feature of the broader market," said Howard Patten, metals analyst at Barclays Capital.

    Silver prices surged along with those of gold, matching their best levels so far this year. The metal fixed at $5.05 an ounce.


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