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

To: Richard Mazzarella who wrote (48660)	2/9/2000 9:44:00 AM
From: Bruce Robbins	Read Replies (1) \| Respond to of 116763

Richard, I agree that the present explosive PGE move is happening as a result of Russia. I agree that there will be a correction once the Russians start supplying the market again. There is probably some panic hoarding going on. However, I do not think we will see the PGE's go below their Dec 1999 levels. The principal demand for PGE's comes from emission control equipment ( mufflers in cars, scrubbers on smokestacks etc). The US has enacted tighter emission control standards for new vehicles in 2000 which has increased the demand. Europe is following suit and apparently Asia is going to follow suit. That increased demand in an already tight supply situation caused the gradual price increase in 1999. Add the new demand that may result from fuel cells and the supply/demand situation becomes very interesting. I do not see any new PGE mines coming on stream over the next year, so no new supply sources in the short term. Perhaps the scrap market will heat up. I do not see substitution of PGE's in the near term either. IMO PGE's will continue to increase in price over the next few years. Silver? There is a lot of silver floating around (scrap, resources etc) that can come out of the woodwork if there is an increase in demand. IMO, any price spike in silver is temporary. And gold? Well IMO it has nothing to do with PGE's. Different animals. Perhaps we should take this to the PGE thread? Bruce

To: Richard Mazzarella who wrote (48660)	2/9/2000 11:16:00 AM
From: long-gone	Respond to of 116763

Is this saying future supply could be hurt?: Wednesday February 9, 8:57 am Eastern Time Tanzania needs higher gold price for exploration By Wambui Chege DAR ES SALAAM, Feb 8 (Reuters) - Tanzania needs a sustained rally in bullion prices to encourage further exploration of gold reserves, mining officials said on Wednesday. The recent surge in prices was not enough to reverse a general slowdown in exploration seen last year after the gold market tumbled. ``The cost of prospecting is very high. The recent rise is not enough. Investors are still reluctant to invest their money in exploration,' Clement Msalangi, an economist in the Ministry of Energy and Minerals, told Reuters.(cont) biz.yahoo.com