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Gold/Mining/Energy : KITCO - Gold discussion -- Ignore unavailable to you. Want to Upgrade?

To: Goldbug Guru who wrote (306)	9/30/1999 2:48:00 AM
From: Gerd Schwarz	Respond to of 989

For what it is worth: I bought some Oil shares when the price of a barrel was around $17.00, before the prices went down. The shares have now only recovered 60% since the collapse last season. Even with prices as they are, the companies budgeted very heavy for Y2K and may want to hide the profits till deep into next year. The case for a drop back to about $18.00 soon, may not be very strong, till well into the New Year. All Oil producer have 'unspecified' problems related to Y2K, but may this not be also the once in a Century opportunity for them, to over-update and over-modernize just about everything, even the pencil sharpeners? You may be right with your price of Gold estimate, but let us all hope Gold will surprise everybody but us, with a multi-year continuous rise. I will be buying a little more today!