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: Ken Benes who wrote (40651)	9/22/1999 5:41:00 PM
From: goldsnow	Respond to of 116790

Now for the hard part, if you will notice, gold rose 3.60 today and the XAU was up a scant .85.>>>> Perhaps another explanation? Shift into the "value" gold stocks? quote.bloomberg.com quote.bloomberg.com

To: Ken Benes who wrote (40651)	9/22/1999 5:50:00 PM
From: goldsnow	Respond to of 116790

Johannesburg, Sept. 22 (Bloomberg) -- Gold company shares in South Africa, the world's biggest producer, rose for a second day as investor confidence was boosted by higher gold prices after yesterday's Bank of England auction. Gold posted its biggest two-day rise in nine years after the U.K. central bank sold 25 metric tons of the metal at $255.75 a troy ounce, above the market price, in the second in a series of auctions planned to reduce its gold holdings. Gold rose 2 percent yesterday and as much as 2 percent today to $265.00 a troy ounce, its highest price since June 6. Gold shares on the Johannesburg Stock Exchange responded, with the 12-member Johannesburg All Gold Index climbing 4.9 percent today, following a 4.6 percent jump yesterday. AngloGold Ltd. the world's No. 1 gold producer, has risen 9.6 percent over the last two days while Durban Roodepoort Deep Ltd., South Africa's No. 4 producer, surged 17 percent in the same period. ``When there is a $5 jump (per day) in the gold price like this, it could lead to a $20 gain in two weeks,' said Anthony Cadle, an analyst at Rice Rinaldi Securities. ``There could be a 20 to 30 percent gain in the large gold shares while some of the smaller gold counters could rise up to 50 or 60 percent over the next month or so.' Gold shares on the stock exchanges of other major producing countries are also rising. In Australia, the world's third- biggest producer, the Gold Index rose 7 percent with Ranger Minerals Ltd. surging 19 percent, while in the U.S., the second- biggest producer, the Standard and Poor's Gold Index has risen more than 10 percent in the last two days, with Newmont Mining Corp. rising 13 percent. quote.bloomberg.com

To: Ken Benes who wrote (40651)	9/22/1999 9:47:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116790

<<By the way, I am very disappointed that there was not one post from you concerning the 7.6 magnitude earthquake in Taipae>> No Ken, you have not been watching closely, I posted about the already increasing DRam prices and how this quake would minifest itself in greater "inflation" in this commodity. If you wish to speak about "myopic", you might at least try to keep up first.

To: Ken Benes who wrote (40651)	9/23/1999 10:15:00 PM
From: Bob Dobbs	Read Replies (3) \| Respond to of 116790

Snippet from this morning's London Reuters of interest to gold owners: The world's largest gold producer, AngloGold Ltd , said on Thursday forward gold sales by producers and hedge funds, partly to blame for the depressed price, should decline in future. Reduced forward sales and hedging and flat or declining new mining production over the next three to five years should contribute to gold's climb back above 20-year lows, Chief Executive Bobby Godsell told Reuters. Godsell said he expected forward selling to decrease because of higher gold lease rates. The rise in rates from historical levels of one percent to 3.5 or four percent recently had changed the dynamics of forward selling, Godsell said.''If the interest rate contango diminishes, there is less value to be found in futures. I would expect less gold to be sold forward,'' he said. The narrowing interest rate differential was also putting pressure on hedge funds holding large short positions, he said. Bob