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

To: Baba 2 who wrote (35883)	6/25/1999 1:20:00 PM
From: Alex	Respond to of 117026

RESEARCH ALERT - Morgan Stanley gold forecast cut NEW YORK, June 25 (Reuters) - Morgan Stanley Dean Witter said Friday analyst Doug Cohen has reduced his 1999 gold price forecast to $275 per ounce from $290. -- The brokerage firm's Morning Meeting Preview said Cohen notes that market sentiment about gold remains profoundly negative, punctuated by the British central bank's announcement it would sell some gold reserves. -- For the near term, it continues, Cohen urges caution, pointing out gold this year has averaged $281 per ounce. His first half 1999 forecast is $286 per ounce. -- The firm said Cohen has cut his 2000 forecast to $295 per ounce from $310 and his long-term price forecast for 2001 and beyond to $310 from $325 per ounce. -- Cohen updated earnings estimates for his coverage universe to reflect the downward revision in the price of gold, Morgan Stanley said. He retains a neutral rating on 11 of the 14 companies in the sector. His favorite ''ride out the storm'' play is outperform-rated Barrick Gold Corp. (Toronto:ABX.TO - news), which was up 1/8 to 18-3/16 after an hour of trading on the New York Stock Exchange Friday. biz.yahoo.com