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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: sea_urchin who wrote (32448)	4/25/1999 10:35:00 AM
From: long-gone	Read Replies (1) of 116770

Metals analyst says gold industry has likely hit bottom By Tom Gardner Associated Press RENO, Nev. -- Gold analyst John Dobra has predicted the future of the gold industry for a decade, and his latest forecast is gloomily optimistic. That's not really an oxymoron. He just says things could hardly get worse. Gold producers hope he's right. "With all of the events in gold markets in the past two years it is difficult to imagine what else can happen," Dobra wrote in the U.S. Gold Industry 1998 report issued Thursday. His biennial survey anticipates survival for companies that can stay profitable at $280 an ounce. But it warns that marginal operations face absorption, and others may just fade away. Dobra, an economics professor at the University of Nevada at Reno and director of its Natural Resource Industry Institute, said producers can only try to weather gold prices struggling to reach $285 an ounce.(cont.) insidedenver.com

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