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

To: Rarebird who wrote (43114)	10/16/1999 11:23:00 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 116779

A "Russian Wheat Deal" will get the gold market flying. The BOE gold auctions are todays equivlent.

To: Rarebird who wrote (43114)	10/17/1999 2:37:00 AM
From: Alex	Respond to of 116779

Krugerrands - insurance against the unexpected MORE Krugerrands have been sold since their launch nearly 30 years ago than the rest of the world's gold coins combined, and with more than 46-million ounces issued so far, Krugerrands are by far the most actively traded in the secondary market. So says Kelvin Williams, chairman of the Rand Refinery. The refinery bought the gold marketing company Intergold from the Chamber of Mines last year and assumed responsibility for marketing Krugerrands as opposed merely to providing administrative and distribution services. Williams was speaking at the Johannesburg launch of the Krugerrand 2000 edition, which was also launched in the US this week. Sales of Krugerrands have tailed off to around 25 000oz a year; Rand Refinery aspires to 25 000oz in the first month. Williams says a Krugerrand is an ounce of gold bullion and is legal tender - not to be confused with collector coins and medallions. It sells at a small, 3% premium to the gold price. There has been a remarkable resurgence of gold investment demand, especially for coins in the US: in 1996 1.3-million ounces of coins were minted and the forecast for this year is 4-million. Rand Refinery is to strike while the iron is hot and take advantage of an opportunity. "The Krugerrand 2000 Programme has aroused considerable interest. Almost all our overseas distributors have indicated they will place orders for Krugerrands, many for the first time in 15 years." Williams says gold still has relevance to the private investor - the world's share-markets are vulnerable, the world retains a capacity for social and economic instability and the US dollar gold price is still low despite its recent rise. "In some countries at certain times the need to own gold may be overwhelming, at other times, less so. Within living memory, millions of individuals in almost every country have benefited from owning gold at the right time. Predicting the right time is not always easy, and for this reason, many people have held gold as a form of long-term insurance against this 'unexpected', or when it occurs, as a safe haven to preserve their wealth." It is indeed a case of when, and not if, the unexpected occurs, he adds. Krugerrands are widely available in South Africa, through Investec, Absa's 800 branches, through JSE stockbrokers and prominent coin dealers, and as jewellery through 800 Jewellery Council outlets. Gary Mead, head of research at the World Gold Council, illustrated gold's role with an account of his own. Mead was the Financial Times correspondent in Argentina from June 1988 to August 1990. When he arrived, there were 10 Australs to a dollar; when he left, 10 000. In the same time, gold slipped from an average 436.87/oz to 383.59 - "a 53 decline, but a remarkably better store of value compared to the poor old paper Austral". Mead says that if gold is good enough for the central bankers of the US, Germany, France and other European countries, it should be good enough for the individual: "It will soon be the new millennium and history is implacably on the side of gold." btimes.co.za