--- Begin Message ---
JP Morgan says suffered no gold trade loss
NEW YORK, Feb. 6 (Reuters) -- J.P. Morgan Chase & Co. on
Wednesday squashed rumors in financial markets that it
sustained a loss during Tuesday's powerful gold rally,
saying instead it made a profit on gold's run to two-year
highs.
"We had a very good day yesterday," said a senior
bank official with knowledge of the bank's bullion trading
operations. "There is no truth to the rumor that we have a
short position in the market, and I don't know where that
came from."
He emphasized, "We did not lose money."
COMEX benchmark April gold futures shot up $9 on
Tuesday and continued to rally early Wednesday,
topping at $309 an ounce, up more than $20 since
Monday. The contract was last down $1.10 at $298
an ounce.
Spot gold was quoted at $296.90/8.40, off from New
York's close Tuesday at $298.00/75. Earlier
Wednesday it hit a two-year high at $305 an ounce.
-END-
------------------------ Yahoo! Groups Sponsor ---------------------~-->
<FONT COLOR="#000099">Get your FREE credit report with a FREE CreditCheck
Monitoring Service trial
</FONT><A HREF="http://us.click.yahoo.com/ACHqaB/bQ8CAA/ySSFAA/WfTolB/TM";><B>Click
Here!</B></A>
---------------------------------------------------------------------~->
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
--- End Message ---
