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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: John Hunt who wrote (36833)	7/8/1999 9:07:00 AM
From: lorne	Read Replies (3) of 116782

S AFRICA GOLD CRISIS CTTEE CALLS FOR GOLD SALES MORATORIUM Johannesburg--Jul 8--South Africa's Gold Crisis Committee (GCC)--a forum of government, the Chamber of Mines, which represents the gold mining companies, and labor--today called for a total moratorium on gold sales by central banks and the International Monetary Fund (IMF). The GCC was set up last year to address the implications of the low gold price on the mining industry and wider communities. (Story .13075) ANALYST SAYS ONLY HEDGING NOW KEEPING GOLD INDUSTRY ALIVE London--Jul 7--The gold producing industry is now being kept alive only by hedging programs which guarantee miners a price above current market levels, according to a report from World Gold, a Mining Journal publication. However, 12% or 1.6 million ounces of production in the March quarter was unhedged, putting at risk a number of mines, especially in South Africa, it said. (Story .19132) crbindex.com Morning John. Gold down, my hay got rained on what else will go wrong bet comet lee will land at my place and ruin whatever hay I got left. Maybe comet Lee is solid gold and will depress the price of gold more. Lorne <:o)

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