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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: philv who wrote (19430)10/22/2003 8:16:52 PM
From: sea_urchin  Read Replies (1) of 81956
 
Phil > The consequences of the US budget & trade deficits will become an increasingly important issue, and yes, I think gold will benefit

I don't know if you saw this piece which Bob Johnson posted at GPM. It was also in the local paper this morning.

busrep.co.za

Why I refer to it is to show that, although gold may be OK in the US, in countries like SA or Canada, where the currency also appreciates against the USD, the game is not so simple.

>>>Kicking off with Avgold today, the companies are expected to post poorer profits for the quarter but analysts warn that worse is still to come.

David Davis, the gold analyst at Andisa Securities, said the December quarter was likely to be much nastier, with hefty cost increases and the lower rand gold price taking its toll.<<<
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