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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (35117)	6/10/1999 11:09:00 AM
From: The Barracuda™	Respond to of 116762

I know a couple of Dellionairs. One of them has been at Dell for 10 yrs and has accumulated approx. $30MM of stock (at Dell's highs) If I had acquired that much value, just by working at a company, I'd be swell headed too. Perhaps in 10 yrs, all the drudges slaving away at mining companies will be the financial equivalent of today's Dellionairs.

To: Cynic 2005 who wrote (35117)	6/10/1999 11:48:00 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 116762

It's interesting to see that the tech guys are coming over here to beat up on the gold bugs. Hubris?

To: Cynic 2005 who wrote (35117)	6/10/1999 2:13:00 PM
From: BGR	Read Replies (1) \| Respond to of 116762

Richard, Don't believe what my good friend Mohan says about my financial situation. I am not rich by any measure. -BGR.

To: Cynic 2005 who wrote (35117)	6/10/1999 7:57:00 PM
From: Alex	Respond to of 116762

Trader says gold at a premium Low prices mean good time to buy Charoen Kittikanya With disenchanting interest rate returns and short-term prospects that gold prices will fall further, gold offers investors the best investment haven, according to an industry veteran. Gold Traders' Association president Jitti Tangsithipakdi said that gold prices in the country had plunged drastically to only 4,650 baht per one-baht weight (15.12 grammes), exclusive of the 300-baht craftsman fee. As the local gold price is closely linked to the world market, measured in dollar terms the price in Thailand has fallen to its lowest level in over 23 years. The price slide was attributed to the strengthened baht and the reduced price on the world market where gold now sells at about US$262.8 per ounce, lower than the $270-275 which meets the production costs of the industry. The price slump in the world gold market has forced almost all gold mines in South Africa to shut down while gold mine operators in Australia have threatened to halt their operations. Output from the two continents accounted for over half the world's annual production capacity totalling 2,000 tonnes, he said. "The price of gold in the world market is likely to see a further fall in the short term, probably below $260 per ounce, if European countries now preparing to sell their gold reserves actually do so. It will also prompt the further fall of local prices," he said. However, he predicted the situation would improve by at least 20% in sales next year, as European countries and the International Monetary Fund (IMF) will no longer have gold for sale. The United Kingdom, for example, announced last month that it was planning to sell about 415 tonnes of gold, accounting for 60% of its total gold reserves of 700 tonnes, at $270 per ounce-much lower than its average purchase price of $320 per ounce-with stocks released gradually over a couple of years. "Next year, many countries are expected to run out of gold supplies, increasing demand for gold in the world market," Mr Jitti said. In Thailand, the economic recovery, which increases purchasing power, may also result in more gold purchases. "However, it is difficult to predict when gold prices will reach their lowest level and are favourable for perspective buyers," he said. Mr Jitti said gold is now very cheap compared with the price of 7,600 baht per one-baht weight when the Thai currency swung wildly last year to over 50 baht against the dollar. The metal is now a worthwhile investment along with government bonds and land. "At present, gold is a highly recommended investment, given its unique brisk trading qualities. It is easy for sales and purchases and the prospect is that next year its value will certainly increase because of economic recovery." According to the World Gold Council, domestic sales of gold this year are predicted to double last year's sales of around 20 tonnes. The prediction is supported by increased sales in the first quarter of this year, recorded at 8.5 tonnes, compared to a "minus" 1.5 tonne net purchase in the same period last year. A "minus" indicates that there have been more gold selling on the part of customers than traders. Annual domestic gold sales used to reach a 126-tonne peak during the economic boom before plummeting to a low of 14 tonnes in 1997. Last year, more than 2,000 gold shops of a total of about 7,000, particularly in the provinces and suburban areas of Bangkok, were forced to halt operations as their falling sales barely covered expenses. <Picture> bangkokpost.com