Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bobby Yellin who wrote (36169)	6/30/1999 11:00:00 AM
From: Ahda	Respond to of 116915

The intelligent step would be for the imf to have a discussion with ABX about hedging and leasing as it is clear that paper is progress to the political world. You have a double labor factor with gold tho i personally prefer it is a standard to pegging currency i also understand it is very unlikely we will ever see real money again. You see things from a people point the government see figures there is the problem . You say lower interest but we have to raise the interest to fend off inflation at the same time. I feel the disparity is greater in income than it has ever been. New housing sales decreasing in a low interest environment . Savings rates decreasing supposedly all are invested i don't agree i think the humbler the income the more conservative the investment vehicle becomes. I think we have created a mess that is going to catch up with us . Besides that we are going to go wild one day with the computer discard environmental barrage that obsolete creates each day.

To: Bobby Yellin who wrote (36169)	6/30/1999 7:00:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116915

September Copper - O 7140 H 7690 L 7125 C 7665 Chg. +505 Yes, you read that correctly, the market was up over 500 points! Copper screamed to new recent highs on news that Phelps-Dodge is cutting back on production from its higher-cost operations. The Hidalgo smelter in New Mexico is temporarily closing, they are restructuring assets, suspending operations at facilities in the Philippines, and selling a South African unit. Along with the BHP shut down, the bulls have had so much to feed on that nothing has stood in their way. I couldn't have been more wrong about my assessment the other day that the market looked overbought...that was over 600 points ago! With these shutdowns, the expected surplus that was foreseen earlier in the year may not be as large now, but oversupply continues to exist. The shutdowns are a law of supply and demand, when something gets so cheap, people quite producing it, which eventually lowers supply, and subsequently raises prices. The fed did raise rates 25 basis points but copper bulls don't seem to care about the potential effects this may have on the dollar/yen, housing starts, etc. Japan announced last week that production of rolled copper and alloy products was up 4% from the prior year. Chinese refined copper cathode imports increased by over 250% through May, in relation to the same period last year. Looking at the big picture, this rally over the last few days does not negate the 2-year downtrend, but it is large enough so that if you are a bear you better not hang on. The weekly charts show resistance near 7600. The market is trading well above moving averages and there is a bullish seasonal in effect. Prices don't lie and the market is in a bull move....don't stand in the way. investorlinks.com