Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: t4texas who wrote (7630)	2/11/2002 9:13:04 PM
From: Roebear	Read Replies (2) of 36161

FWIW, A post that's been making the rounds on the internet: messages.yahoo.com Excerpt Japanese Gold Rpt from a friend by: del_az Long-Term Sentiment: Strong Buy 02/11/02 06:03 pm Msg: 4899 of 4905 of a friend e-mailed from TYO: ================================ "I have been trading commodity futures in Tokyo for over 15 years going back to the bubble days of the 80s. Last week the Tokyo gold market saw record volumes on Thursday (2/7) and Friday (2/8). Volume on Thursday was a daily record volume of 340,676 contracts which equates to 10.8 million ounces or more than Newmont (now which includes Franco Nevada and Normandy) produces in a whole year. That was followed by a similar volume on Friday. Both days saw volumes larger than the entire open interest. I have never seen anything like this. Open interest from Wednesday to Friday increased by 10%. I had dinner with two Japanese friend who were visiting...One chap owns 10 buildings in Tokyo and is quite well off. He recently bought 50 kilograms (approx 1750 ounces) of physical gold bullion. Cost him about yen equivalent of $US $520,000 for the purchase. He and his wife hauled the booty over to his safe deposit box at his bank in boxes. He is convinced that gold will go over USD 1,000 in the future. A friend of his also recently purchased about yen equivalent of USD 1 Million in bullion. The Japanese are getting seriously concerned about the situation there. Figure this: The Japanese have been saving for the last 50 years and now have about 11 Trillion dollars in savings. That's TRILLION with a T. They are still saving even in their decade long depression. Let's say the Japanese are concerned enough to take 1% of that which is $110 BILLION and put it into the Gold bullion or Gold share market. Capitalization of all the gold mining companies in the world is estimated at $35 to $40 billion.

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