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

To: Zardoz who wrote (40083)	9/6/1999 6:41:00 PM
From: Little Joe	Read Replies (1) \| Respond to of 116791

Hutch: Unlike others on the thread, I enjoy your posts, as well as Rarebirds. You both make good points, although I wish both of you would not get so personal about it. Anyway in your last post to Rarebird you said: "You fail to understand the strife that Euroland, Britain, and Japan are going through right now." I take it you don't think they are in recovery now? What if the doom and gloomers are right and the market heads south. What does that do to your scenario? One thing I agree with the current weakness in gold cannot be attributed to a conspiracy. There is some real economic reason that Gold is cheap and we need to search for the answer rather than blame a conspiracy. This is not to say that some of the charges against the central banks are innaccurate, it just means that if the fundamentals of the gold market were as positive as we have been led to believe, the alleged or real conspiracy would not depress prices. Not for as long as they have been anyway. Having said this, I think that gold is cheap. I don't know where the bottom will be, but it will come. My strategy is to lightly buy on dips, but jump in big once a bottom has been confirmed. This to me seems a prudent person for a person who wants to invest in gold and gold stocks. Live long and prosper, Little joe

To: Zardoz who wrote (40083)	9/7/1999 6:35:00 PM
From: goldsnow	Respond to of 116791

quote.bloomberg.com

To: Zardoz who wrote (40083)	9/7/1999 6:55:00 PM
From: goldsnow	Respond to of 116791

The IMF said existing disequilibriums -- including the highly valued share market, negative savings propensity among private individuals, the dependency on foreign savings and the high value of the dollar -- could cause a ``hard landing.' biz.yahoo.com ps. But who takes IMF seriously anyway..they already had their own hard landing <VBG>

To: Zardoz who wrote (40083)	9/7/1999 8:13:00 PM
From: goldsnow	Read Replies (3) \| Respond to of 116791

New York, Sept. 7 (Bloomberg) -- Crude oil prices will rise to about $23 a barrel through March, prolonging this year's rally, as production cuts end a world supply glut, the U.S. Department of Energy said. Crude oil traded in New York will average $22.78 to $23.28 a barrel through March, the department said, up $1.50 to $2 from its August forecast. Prices have surged 88 percent this year and today reached a 23-month high of $22.61 a barrel. ``Prices have turned out to be a lot higher than we thought,' said Dave Costello, the economist in charge of the short-term energy outlook for the DOE's Energy Information Administration. ``We just had to boost our forecasts or we would have been way wrong. Prices have been strong and they could rise some more.' The rally is fueled by output cuts by the Organization of Petroleum Exporting Countries and other producers, which have pledged to reduce production by about 7 percent. After the DOE's report, crude oil for October delivery rose 61 cents, or 2.8 percent, to $22.61 on the New York Mercantile Exchange. It was the highest closing price since Oct. 3, 1997, the day the U.S. sent an aircraft carrier to the Persian Gulf and warned Iran not to send jet fighters into Iraq. Gasoline to Rise in September The DOE now expects that the national average for regular gasoline to rise to $1.26 a gallon in September, the highest monthly average of the year. Prices are likely to drop by 2 cents to $1.24 next month and a penny further in November to $1.23 a gallon as less driving reduces gasoline demand in the autumn. If crude oil prices rise as forecast, gasoline prices next year could be 11 cents to 12 cents higher a gallon than this summer, Costello said. That would be the highest price since the Energy Department began weekly price surveys six years ago. Heating oil also is forecast to be much more expensive than last season, when prices reached their lowest in about a decade. The DOE is predicting heating oil prices 24 cents higher a gallon than last year, averaging $1.06 a gallon. If the U.S. winter is normal, as expected, heating bills for homes that use oil could be about $700 a year -- up 40 percent from last year, when the winter was mild. ``The double whammy is coming, with additional demand coming amid much higher prices,' Costello said. Natural gas prices this winter are projected to be about 42 percent higher than last year, when the weather was generally unseasonably mild, the report said. However, on average, natural gas prices are expected to increase about 9 percent annually this year and next. Natural gas should be a cheaper alternative to competing fuels derived from crude oil for the rest of this year and all of 2000, the report said. Natural gas prices, based on New York futures, are 43.5 percent higher than a year ago. -------------------------------------------------------------------------------- ¸ Copyright 1999, Bloomberg L.P. All Rights Reserved. quote.bloomberg.com