Johannesburg--Apr 30--The malaise in the gold price has little to do with talk
of gold sales by the International Monetary Fund (IMF) or Switzerland,
according to South Africa's Anglogold Ltd., the world's largest gold producer.
Anglogold blames the banking and investment sector, "which seems to ignore
any and all good news on gold and which follows a policy of recommending selling
on every improvement in the gold price, no matter how modest," the company said
in a review of the gold market which accompanied its March quarterly results
announced earlier today. By I-Net Bridge, Story .12433
London--Apr 29--India's demand for gold and silver is unlikely to change in the
short to medium term, Kamal Naqvi, analyst at Macquarie Equities, said in a
presentation at the London Bullion Market Association Spring Seminar today.
"The gold and silver markets should continue to be supported by the underlay
of Indian demand in coming years...However, the seemingly inevitable longer-term
trend in both economics and culture is towards a more western-style approach and
this has obvious implications for bullion demand," he argued. By Gavin Maguire,
Bridge News, Story .13508
Johannesburg--Apr 30--South Africa's Anglogold Ltd., the world's largest gold
producer, said today its hedge position increased by 8.7% to 12.9 million
ounces, spread over 10 years.
This is the equivalent to a year and 9 months' production, the company
said, after producing 53.711 tonnes of gold during the 3 months ending Mar 31,
1999. By Tim Smart, I-Net Bridge, Story .12987
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