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

To: Enigma who wrote (39606)	8/26/1999 12:05:00 AM
From: russet	Read Replies (3) \| Respond to of 116801

No sense wasting your breath DD. A lot of people on this thread figure there is a huge conspiracy to lower the price of gold. Who really gives a damn. Gold is just another metal that we mine. It has lost its past for now, in the modern world. Of course the uneducated, overpopulated, less industrialized areas of the globe continue to buy huge amounts of the metal for adornment and security. Will they crush the horrible shorters, producers and CBs, the Hannibal Lectors of Gold? In the meantime should we buy the metal itself, or buy suppliers that refuse to look for cheaper sources of supply, refuse to modernize, refuse to hedge and refuse to admit that gold is a commodity and is no more important than most other metals? Or should we buy producers that recognize what is going on, and act accordingly? Keep in mind, those producers have management share incentive programs that reward their executives for share price and earnings improvements, even as they continue to forward sell the metal and improve profitability. Or should we blame the CB's, the producers, the politicians, anyone but ourselves for our poor investment decisions? In 1982 I was hearing the same crap. Gold is going to $1000. Right. Then a crapload of cheap new supply came to drop the price,...and new exploration technologies were refined, and more and more previously hidden deposits of gold were found. This trend continues. Only the lowest cost producers will survive. Buy accordingly. Just a thought folks. I could be wrong. Just how much gold is in the ground? Place your bets! :-)))) russett

To: Enigma who wrote (39606)	8/26/1999 9:09:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116801

WASHINGTON, Aug 25 (Reuters) - The Federal Reserve has given investors plenty of reason to hope its latest interest rate rise will be the last this year, but that is far from a sure bet as dangers still lurk in the economic outlook. In announcing its second rate increase in two months, the Fed said its actions should ''markedly diminish the risk of rising inflation going forward.'' While lifting the federal funds and discount rates by a quarter-point each, the Fed said it had a ''neutral'' or open stance on future rates, as opposed to a formal bias to tighten that would have signaled a readiness to move again soon. But the economy's performance, rather than an FOMC statement or an official policy stance, will provide the ultimate signal on the fate of U.S. borrowing costs. ''The Fed's statement does not preclude further action,'' said Bruce Steinberg, chief economist at Merrill Lynch in New York. ''I think it means the chances are low that they will go again. With all that said, it depends on the economic data.'' The Fed cited persistently strong consumer demand, a tight labor market and signs of stronger demand abroad as reasons for its well-anticipated decision to nudge up interest rates for the second time in two months. Analysts said reports on those factors will be key for future Fed policy. Some said the numbers could well remain strong after several years in which the booming U.S. economy has stubbornly refused to slow. Indeed, no sooner did Fed officials wrap up their meeting than new data underscored that the long-struggling manufacturing sector is on the mend. The Commerce Department said on Wednesday that new orders for costly manufactured goods shot up by 3.3 percent in July, a rise that reflected broad-based demand for cars, appliances, airplanes and other items. ''The orders report tells (Fed Chairman Alan) Greenspan that there is no slowdown in sight,'' said economist Joel Naroff of Naroff Economic Advisers. ''The July durable goods report is the first brick in the road that could take us to another rate increase on Oct. 5,'' he said, referring to the date of the Fed's next policy meeting. Still, labor-market data is expected to be of paramount importance to Greenspan. ''Greenspan has repeatedly said that what he is most worried about is the tightness of the labor market,'' Steinberg said. ''If between now and the next FOMC we get another employment report that suggests a continued strengthening in the already tight labor market, the Fed could move again in October.'' Steinberg forecasts a slowing economy and a cooling off in the labor market that would keep the Fed on the sidelines. But some other analysts saw that as wishful thinking. ''I don't think Fed officials are going to get want they want in terms of the signs of slower growth,'' said chief economist Mark Zandi at Regional Financial Associates in West Chester, Pa. ''They will probably act one more time this year,'' he said.