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

To: Tunica Albuginea who wrote (42535)	10/9/1999 12:54:00 PM
From: goldsnow	Respond to of 116764

Economist Ian Shepherdson said the figures indicated wage inflation was on the rise. He said: "There is nothing in either the statistics or the anecdotal evidence to suggest that the demand for labour is slowing. "This either means that the (Hurricane) Floyd effect is bigger than the statisticians believe, or that the pool of available workers has shrunk so far that real mismatches of supply and demand for labour are beginning to appear in some parts of the country. " "This can only have one outcome - faster wage inflation - which is why the Fed (the Federal Reserve, the US Central bank) needs the economy to slow, and soon." news.bbc.co.uk

To: Tunica Albuginea who wrote (42535)	10/9/1999 4:48:00 PM
From: Alex	Respond to of 116764

Bars of gold bullion are selling like hotcakes at Scotiabank's metals desk Keith Damsell Financial Post <Picture>Andrew Tolson, National Post Gold bullion: Once again the stuff that dreams are made of. Rana Kazemi has witnessed gold fever in all its sweaty, nail-biting angst. The precious metal's volatile climb to as high as $340.50 (US) an ounce has meant a surge in business for Bank of Nova Scotia's foreign exchange and precious metals desk where Ms. Kazemi is senior operations officer. She said one mature customer, convinced the price of gold would double by year end, cashed in all her mutual funds last week and snapped up $200,000 in bullion. "Her hands were shaking at the counter. She wants it right now, right now," Ms. Kazemi said. "You should see them. They're biting their nails. I feel sorry for them." Gold fever is alive and well at the corner of King and Bay Streets in Toronto. Wallet permitting, customers can stroll into Scotiabank, perhaps Canada's biggest clearing house for gold, and walk out 20 minutes later with bullion in the bag. "We've been very busy," says Ms. Kazemi. "People are buying, buying because they thought gold was going higher. It quiets down and then it gets busy all over again." Gold has been on a tear in recent weeks. On Sept. 21, the Bank of England's second auction of 25 tonnes of gold went better than expected, triggering a price rally. Five days later, Europe's central bankers capped gold sales and lending for the next five years, killing gold-dumping fears that have kept the precious metal depressed. Gold touched $340 (US) before falling to $324.40 (US) yesterday, up $8 (US). Only six weeks ago, gold hit a 20-year low of $252.55 (US). At 40 King St. W., there's nothing like the real thing. Options range from maple leaf-embossed coins containing one-twentieth of an ounce at $48.05 to wafer-sized ten ounce bars for $5,016.60. All that's needed are two pieces of identification. "The cage," a bullet-proof room with double-locked doors that sits in the corner of the lobby, doles out the required ounces. The bank will buy gold, too. A bullion analyzer, a flat grey machine the size of a typewriter, can calculate the purity of coins and bars brought in by prospective sellers. Two years ago, the machine exposed a bogus bar being hawked by a Toronto lawyer. Bigger transactions are more complex. The source of currency must be determined and the vault notified. The vault is a non-descript room with a series of large grey gym lockers. Each locker swings open to reveal fat trays of 400-ounce bars. Security is tight. A 52-tonne door with an elaborate timed lock keeps unwanted visitors at bay. Its exact location in the bank is a closely guarded secret. Secrets are thick among the bank's customers. Several gold bugs declined to talk to the Financial Post about their bullion buying. Fear -- rather than monetary gain -- appears to be gold's greatest sales tool, bank staff say. According to many gold bugs, economic catastrophe is lurking just around the corner. "Some people believe there'll be an economic event in the year 2000 and they want to have gold for protection," said Glenn Brown, analyst at Toronto's Haywood Securities Inc. Scotiabank has more immediate concerns. Bess Fuda, assistant manager of the precious metals desk, gets "an uneasy feeling" when a customer heads out the door with a $200,000 gold bar in his briefcase. "It's not like a cheque that can be replaced," she says, recommending use of a safety deposit box. ÿ

To: Tunica Albuginea who wrote (42535)	10/10/1999 12:14:00 PM
From: Tunica Albuginea	Read Replies (6) \| Respond to of 116764

CAN WE ALL STOP TALKING ABOUT INDIVIDUAL COMPANIES AND STAY WITHIN THE SPIRIT OF THIS THREAD? We are all big enough to do our own stock analysis . There are multiple threads talking about individual stocks. If ABX or NEM go belly up or double in 1 year it will do very little to change the POG IMHO. So let us stick to the subject, which is * The POG " To monitor/analyze those factors affecting the price of gold, long-term, short-term, and in-between, and to determine where we currently stand in relation to those factors" TA --------------- Subject 15208 Started By: Abner Hosmer Date: May 27 1997 9:44PM The purpose of this thread is very simple: To monitor/analyze those factors affecting the price of gold, long-term, short-term, and in-between, and to determine where we currently stand in relation to those factors. Comments on the rest of the precious metals complex are also encouraged, as is technical analyses. PLEASE DO NOT GIVE OR SEEK RECOMMENDATIONS OR ADVICE ON INDIVIDUAL STOCKS. I hope this thread will prove to be a valuable exchange of information, ideas, and insight. TB