SOUTHERNERA (t.SUF) Message Board

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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: Chas. who wrote (2047)	9/27/1998 2:49:00 PM
From: Valuepro	Read Replies (1) of 7235

Chuck and Vaughn, De Beers stock has been suffering of late which may be some consolations to those of us holding Canadian diamond stocks - it's not just "us." In the mean time, gold bullion is moving higher as are stock prices for the major producers. The XAU, an index of of major gold and silver producers, has been screaming higher as have been futures prices on Euro dollars. The European central banks will not be able to sell gold after January 1 when the Euro is introduced which will have partial gold backing of at least 15%. Rumors persist China is buying and the markets are anticipating Japan will also become a buyer as they drop their holdings in depreciating US dollars and treasury instruments. Recent information suggests the failure of Long Term Capital Management, L.P. (LTCM, which has been short gold), will prompt covering of their position after which time we may well find the balance of short v. long interest substantially on the long side. Remember while diamond and diamond stocks suffered in the 30's, gold and gold mining stocks soared. ...just some thoughts.

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