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

To: Enigma who wrote (43809)	10/25/1999 2:16:00 PM
From: SwampDogg	Read Replies (1) \| Respond to of 117037

"You seem hard pressed to know the difference between investing and speculating. An investor is someone who assesses the downside as well as the upside - so for the future - what better than investing in a company that has hedged it's product and which can participate as to 70 % in the upside?" Speculators actually are probably better at risk/reward than most investors. I do not think that "investors" buying stocks like CSCO or AOL at these levels know anything about the downside. I you want to buy a gold stock buy one that has blue sky potential if the POG explodes...otherwise why bother?

To: Enigma who wrote (43809)	10/25/1999 2:18:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 117037

That was a wonderful explanation. Lets put it in perspective. Golds present price 300.00. This represents a 20% increase from its low price. ABX's current price $19.50, which is approx. .90 less that its selling price the day prior to gold gapping up. Thank God, they hedged, otherwise who knows at what price abx would be trading. When gold was hitting its highs of 340.00, abx had alreadly declined from its high in the rally, and I suspect had gold gone to 400.00. Abx might be selling at its current price as some of its derivatives would have blown up. Hedging is certainly a wonderful concept, particularly for the management of the producers. They probably get flown to the location needed to sign on the dotted line in a bullion dealers corporate jet being served aged steak that they wash down with french wine. Meanwhile, the investor in abx, can switch from a bottle of screw off cap cianti to price club table wine with a cork after he cashes in his profits. Ken

To: Enigma who wrote (43809)	10/25/1999 2:54:00 PM
From: Alex	Respond to of 117037

China to maintain stable currency, boost demand -- U.S., China joint statement WASHINGTON (AFX) - The Chinese government will maintain policies aimed at holding the exchange rate of its currency steady and stimulating demand within its economy, officials told the U.S. during a meeting of the China-U.S. Joint Economic Committee in Beijing. During the 12th session of the committee, a U.S. delegation headed by Treasury Secretary Lawrence Summers and Chinese officials discussed a range of economic issues, including China's possible entry into the World Trade Organization, according to a joint statement issued by the committee. "China emphasized that it will continue its pro-active fiscal policy and appropriate monetary policy stance so as to maintain the balance of payments and therefore maintain the stability of the RMB exchange rate, thereby further boosting domestic demand," according to the statement, a copy of which was made available in Washington. Chinese Finance Minister Xiang Huaicheng and Summers chaired the committee. China also stressed its efforts to reform state-owned enterprises and establish "a sound social security system so as to maintain the growth momentum of the national economy," according to the statement. The joint statement does not mention any details of the talks on China's entry into the WTO, which officials from both nations hoped to complete before the next round of trade talks are launched in Seattle next month. wbs/zax N For more information and to contact AFX: www.afxnews.com and www.afxpress.com ¸ Copyright 1999, The Nasdaq Stock Market, Inc. All Rights Reserved.