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

To: Ironyman who wrote (45952)	12/14/1999 7:40:00 AM
From: Alex	Respond to of 116764

12/13/99: The Outlook For Gold In 2000 PAUL KANGAS: There's little question that 1999 has been a poor year for holders of gold or gold stocks. And with us now to talk about the outlook for the precious yellow in year 2000 is Melanie Lovatt, the senior metals correspondent for BridgeNews. And welcome to NIGHTLY BUSINESS REPORT, Melanie. MELANIE LOVATT, SENIOR METALS CORRESPONDENT, BRIDGENEWS: Hello, Paul. KANGAS: Are things looking any better at all for the price of gold as the new millenium begins? LOVATT: No, not really. People are expecting that gold prices could edge up a little bit, but I'm afraid for all those gold bugs out there we're not going to see really, really a big increase. KANGAS: What should we watch for to give it a boost? LOVATT: Well, if energy prices continue to climb higher the inflation picture could increase, but inflation really needs to be much, much more rampant before gold prices can really climb. KANGAS: When they stay at levels around 280 as they've been recently, would you expect more production cutbacks from the gold miners? LOVATT: Actually, quite a few of them have cut back already and they have certainly cut back some of their exploration expenditure. So I really don't think we're going to see any increases. But whether they can cut back any more is another matter. KANGAS: What would be the biggest negative you could see? LOVATT: The biggest negative right now is really, in a way, what we're seeing. It is high stock prices. It is a strong dollar making gold very expensive in terms of other currencies. KANGAS: And what would you expect the range for gold would be in the first year of the new millenium? LOVATT: I'm expecting to see it around $270 to $320 but any push above $300 per ounce is going to be very difficult if stocks and the dollar continue to remain strong. KANGAS: And you expect more selling from central banks? LOVATT: Definitely. We know for a fact that a lot of the central banks such as the Dutch, the United Kingdom are going to keep selling. KANGAS: All right, it doesn't look too cheery for the moment, does it, Melanie? LOVATT: Not really. KANGAS: OK, thanks very much for being with us. We've been speaking with Melanie Lovatt, senior metals correspondent at BridgeNews. Nightly Business Report transcripts are available on-line post-broadcast. The program is transcribed by FDCH. Updates may be posted at a later date. The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered as investment advice. (c)1999 Community Television Foundation of South Florida, Inc.

To: Ironyman who wrote (45952)	12/14/1999 7:48:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116764

Re: When you put a vacuum on a oil well, you are sucking natural gas! Hi Eric, Thanks for correcting me. I went back to one of the messages that I read about oil and it said... << I am most concerned about electrical grid systems .... can they deliver power? From my experence in Venezuela, power outages were common under the best of circumstances ...... sometimes for days. There are 10s of thousands of well in Venezuela that require artificial lift, many of them from electrical submersible pumps. >> So the vacuum existed, but only in my mind. < vbg > John ***** On a lighter Y2K vein... A 'new and improved' Office 2000 suite members.xoom.com