It is our opinion that the gold market is poised to begin a major rally and its six month base is near completion. We believe EMU related selling is finally coming to an end and Asian liquidation ( e.g. Korea ) is
over. Well informed dealers are alerting their producer clients that the excess supply of near term gold supply is going to diminish and some of the big producers are covering hedges.
In our opinion this rally will take us to $370 to $400 within a year and then to $600 per ounce in the years to come. The rationale for this prediction is layed in our soon to be published 1998 Gold Book Annual. Some of the highlites of the book may be viewed on our website,www.venerosogold.com
Bill Murphy
Veneroso Associates
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