/ 27 October 1999

CONCERN AS GOLD FALLS BELOW $300

ASIAN midday spot gold was quoted lower on Tuesday from the opening price as the market looked for the price to test support at $295, traders said. Gold closed lower overnight in New York, hitting a three-and-a-half-week low that triggered stop-loss selling. Traders said gold’s drift lower in recent days is a correction from its rapid moves upward and the ability to stay above $295 could give a signal of gold’s longer-term outlook.