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

To: Ken Benes who wrote (47190)	1/17/2000 12:34:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116791

From you what else is new? And what have you learned - one day when I'm truly bored I'll go back and list all of your false statements on specifics.

To: Ken Benes who wrote (47190)	1/17/2000 1:16:00 PM
From: Zardoz	Read Replies (2) \| Respond to of 116791

If we get a short term rally; nem offers a good trading opportunity. I would not consider ABX at all, it will be a lackard, and will continue to under perform nem into the future. I don't own ANY gold stocks at this time. So I feel I'm uniquely unbiased. Your comments demonstrate that you believe apples and oranges are comparable. The first thing you learn in securities courses is to separate those that are comparable, from those that aren't. Under your idea of direct comparisons, you suggest that NEM will out perform ABX. And in deed, if you look at the last 1-year chart for NEM and ABX, you might well think you are right. members.home.net {1 year} But the value of NEM comes from combined assets of both Silver and Gold. So how much Silver is produced relative to GOLD. Silver has held up well, primarily due to the buffet effect. But if one goes back to larger time frames, we see that NEM has under performed ABX continuously. members.home.net {2 year} members.home.net {3 year} members.home.net {4 year} Most importantly, if you look at the percent difference from the 4-year chart you can see that ILLREGUARDLESS of the price of gold, ABX has outperformed NEM by 20%. Now if you look at comparable, the closes to ABX are PDG. And that suggests that going forward, in any price rise in gold, PDG will outperform ABX. AKA PDG is better buy then ABX, which is still better then NEM. It is only the silver price that is holding up NEM. {That and some rumours involving ABX & NEM} A side note, rising interest rates may be playing havoc with those companies/individuals who leased gold from the cb's and invested the proceeds in treasuries. No. It depends on whether the lease rates were fixed, or variable. Most are fixed at negotiation. AND who's to say they bought treasuries in USA? Maybe they are also hedged in foreign assets, to which currencies are involved. Ever wonder why the 30yr CDN rates are lower then the 30yr USA rates? If Gold is to rise fast, those currencies like CDN and Australia should also rise. Thus: $130 CDN bond at $0.6900 US/CDN := $89.70 USD may well become $128 CDN bond at $0.7200 US/CDN := $92.16 USD Those who try to over simplify, often make the most common mistakes. ABX is a CDN company that trades also on the NYSE, but invests GLOBALLY. To blindly suggest that Higher US rates will have a negative effect on ABX hedge is to ASSume that they are only investing in US treasuries. I can not stipulate that. Hutch

To: Ken Benes who wrote (47190)	1/17/2000 3:30:00 PM
From: Zardoz	Respond to of 116791

RELEASE DATE: Wednesday 12 January 2000 Clearing Turnover Statistics: December 1999 Despite the general winding down of business ahead of the end of the year and the millennium, there was enough activity in gold to result in a slight increase in the clearing figures, but not in silver, which slid to a fresh low. In both 1997 and 1998, gold statistics had increased during the last month of the year versus November, and 1999 followed the same pattern. Ounces transferred moved up to a daily average of 28.5 million - an increase of 12%. The number of transfers rose by roughly the same margin to a daily average of 942, while value rose by somewhat less, based on an average fix of $283.064, which was $10 lower than the previous month. Nevertheless, it was the lowest level of activity in gold seen in any December to date. Like gold, clearing activity in silver has tended to show an increase during the last month of trading, but not in 1999. Silver set new lows in both ounces transferred and the number of transfers. At 119.9, the daily average amount of ounces transferred was roughly 5% lower than the previous month and 41% down on December 1998. The number of transfers fell from 322 in November to 300, while average daily value remained at $0.6 billion, with an average price almost unchanged at $5.1594. The main price movements in gold took place at the very beginning and end of the month. After opening just above the $290 level, it touched a low fix of $276.10 within the first few days. Announcements of sales from the official sector weighed on market sentiment, even though that from the Dutch central bank was within the amount previously stated in the September joint announcement. Physical demand helped support prices at around the $280 level. After seesawing back and forth, the market finished the year with a recovery to the $290 level. Once again, there was little news to influence the silver market, and it tended to mirror movements in gold. Prices remained restricted within a ten-cent band for much of the month. After opening around $5.20, it reached a low fix of $5.07 during the first few days of the month, then recovered again to its opening level. It rose sharply to a last fix of $5.33 on a late surge of activity. lbma.org.uk