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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.80+0.9%Nov 19 4:00 PM EST
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To: Zardoz who wrote (41601)9/29/1999 8:47:00 PM
From: goldsnow  Read Replies (3) of 116763
 
Following are comments by James Leahy, an analyst at T. Hoare Canaccord, on the erratic movement in gold share prices after the gold price declined for the first time in a week. The gold price has gained as much as 22 percent since Sept. 26 when European central banks said they would limit sales.

On gold shares: ``We're into the realms at this stage of total uncertainty. The mining shares really don't know which way to go. ``AngloGold has fallen. You always buy the blue chips in the first phase of any bull run. ``The AngloGold's, Barrick's and Placer Dome's have had their first flush. ``Homestake, Ashanti and Normandy are classic second tier stocks poised to rise. ``This is certainly a new kind of market and its one that's rewritten all the rule books.'

On gold market: ``The most critical thing is the gold lease rates. They've doubled but that indicates how tight the market is.'
quote.bloomberg.com
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