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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: Richard Mazzarella who wrote (48660)2/9/2000 9:44:00 AM
From: Bruce Robbins  Read Replies (1) of 116764
 
Richard,

I agree that the present explosive PGE move is happening as a result of Russia. I agree that there will be a correction once the Russians start supplying the market again. There is probably some panic hoarding going on. However, I do not think we will see the PGE's go below their Dec 1999 levels. The principal demand for PGE's comes from emission control equipment ( mufflers in cars, scrubbers on smokestacks etc). The US has enacted tighter emission control standards for new vehicles in 2000 which has increased the demand. Europe is following suit and apparently Asia is going to follow suit. That increased demand in an already tight supply situation caused the gradual price increase in 1999. Add the new demand that may result from fuel cells and the supply/demand situation becomes very interesting. I do not see any new PGE mines coming on stream over the next year, so no new supply sources in the short term. Perhaps the scrap market will heat up. I do not see substitution of PGE's in the near term either. IMO PGE's will continue to increase in price over the next few years.

Silver? There is a lot of silver floating around (scrap, resources etc) that can come out of the woodwork if there is an increase in demand. IMO, any price spike in silver is temporary.

And gold? Well IMO it has nothing to do with PGE's. Different animals. Perhaps we should take this to the PGE thread?

Bruce
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