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

To: long-gone who wrote (40235)	9/13/1999 10:34:00 AM
From: Don Green	Respond to of 116760

Falling Gold Prices Fail To Attract Buyers Monday, September 13, 1999 TOKYO (Nikkei)--Though the price of gold bullion currently sits at a 26-year low, investors are hardly rushing to buy the precious metal. The retail price dropped below 1,000 yen per gram, consumption tax included, on Sept. 2 and has not been able to recover since. Analysts say that investors considering gold's decline since prices peaked in the early 1980s see the potential for further deterioration and wonder if buying will ever reap rewards. "We expected a rush of buyers but it didn't happen," said Hideo Kamei, president of Tanaka Kikinzoku Jewelry, Japan's largest seller of gold bullion. "Unlike when prices were volatile in 1981 and 1982, people are not lining up outside shops." An official at Sumitomo Metal Mining Co. (5713), which sells bullion over the telephone, says it takes an average of 30 minutes to make a sale and sometimes even that lengthy a pitch cannot solicit an order. In 1995, when gold prices plunged on the yen's appreciation, investors instantly agreed to buy, he said. But gold traders are bullish, forecasting 40% growth in demand from investors this year to about 100 tons. They are counting on the tendency of Japanese investors to buy when prices fall. They add, however, that 100 tons pales in comparison to the 1988 peak of 365 tons. (The Nihon Keizai Shimbun Tuesday morning edition)

To: long-gone who wrote (40235)	9/13/1999 10:37:00 AM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 116760

"I would also think any strong Republican or Libertarian or free market believer & any that oppose the Clintons will rush to buy all the gold they can afford just to break them...." A lovely thought. You know if everyone in a high population place like the US or India or Brazil would buy just an ounce of silver, can you imagine the pressure brought to bear on the current price? Once the investment flood hits silver and gold the spike might be spectacular short-term at least. --Al