Shanghai, Feb. 3.
General conditions remained unchanged after the long Chinese New Year holidays, A very quiet market prevailed throughout the past week, Fesulling in a very limited volume of! bars being transacted. A gradual downward trend was apparent during this period under review, but the range of movements was, however, narrow, between $1,161.60 and $1,142.40.
During the first three days of trading longs, who were twice as many 38 sharis, took advantage of every high level to liquidate their overloaded positions, and in fact this was] apparent throughout the week.
Rise in the price of silver in the world's market influenced a. bearish feeling among speculators on Tuesday, the first trading day of the week, 'The market opened at $1,100.80, about $400 lower than the last closing be-Tore the holidays, and declined to $1,185.30, inthe afternoon, 'Opening on Wednesday at $1157.20 the, market dropped further to $1,181.30 by the end of the half-day' session and to $1,140,10 on the following day.
Excessively dullness was witnessed on Friday, and the market moved Between $1,149 and $1,140.00.
Further weakness of the local gold bay was apparent during the week: end session. The lowest price of the week, $1,142.40, was recorded toward the closing when some heavy selling activity was seen.
Text read from the printed page and cleaned; old type leaves the occasional error.