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Gold/Mining/Energy : Greenstone (GRERF)

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To: Mike Roberts who wrote (110)	10/9/1998 1:30:00 AM
From: Mike Roberts	Read Replies (1) of 138

something to chew on while we wait for GRE news... At the 10th Annual Denver Gold Forum being held in Denver, Leann M. Baker, a top gold analyst for Salomon Smith Barney, had a very optimistic attitude about gold saying that now was a good time for a conference like this with the renewed interest in the yellow metal among investors including the large group of fund managers attending the conference. She explained gold's stubborn , lackluster price behavior in words that have a familiar ring to readers of this daily report. "...speculators have been borrowing gold, selling it back into the market, and this adds to the supply...and we end up with a supply-demand situation where the over-supply of gold tends to lower its price." With all the problems at the hedge funds, gold analysts have reason to believe that those short positions are at least neutralized, if not in need of squaring -- a process which could drive the price higher. "I've been saying we should expect the price to average $350 year. We're bullish," said Baker. usagold.com

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