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

To: long-gone who wrote (51302)	4/11/2000 9:18:00 AM
From: William Peavey	Read Replies (1) \| Respond to of 116753

I was interested to see JP Morgan's name associated with this enterprise. Weren't they one of Bill Murphy's original Hannibal Lechters? Maybe it's okay for gold to rise now. Bill

To: long-gone who wrote (51302)	4/11/2000 10:40:00 AM
From: Ahda	Respond to of 116753

Richard those with money got out of many of the dot coms before the dots left big black holes or red welts whatever you want to call it. Gold is in the hands of those with money look at Nem. I sure as heck would rather of held it than what i have held last year 17 there about, this year around 23 a quiet solid return.

To: long-gone who wrote (51302)	4/11/2000 11:37:00 AM
From: Alex	Respond to of 116753

Gold miner goes dot com to market the metal on internet The world's largest gold producer, South Africa's AngloGold, yesterday announced it had gone dot com in a bid to improve the value of its gold sales and raise in the gold industry's profile. The move involves the creation of a new web page, www.goldavenue.com, in a joint venture with US finance institution J P Morgan and Swiss refiner Produits Artistiques de Metaux Precieux. The partners will commit $US20 million ($33 million) in seed capital to fund the first years of GoldAvenue's development. AngloGold's general manager corporate development, Mr Nigel Unwin, described the web page venture as the most exciting development within his company for some time. The website will allow consumers to buy gold from bullion to jewellery over the internet as an investment with the knowledge that they can sell it back to the joint ventures for the value of the gold content at the prevailing spot price. Investors will be able to directly trade gold shares via the site which will also contain detailed information on gold industry production. The hope is to create a marketplace where people can purchase, invest, save and trade gold. This should increase market liquidity and create appeal for gold by lowering the barrier for access to gold, according to the partners. Ultimately, services for investors, merchants and others dealing in gold will be rolled out. AngloGold's move reflects growing recognition within the gold industry that it will have to market its product after years of simply selling it into the global market at whatever price is obtainable. It follows central banks throughout the world lessening their holdings of gold reserves, resulting in long-term weakness in the gold price. AngloGold's move is expected to be followed by other marketing initiatives by fellow gold producers throughout the world. Mr Ron Cambre, the chairman and chief executive of leading US gold producer, Newmont Mining Company, told the Australian Gold Conference in Perth yesterday his company was also examining downstream marketing opportunities. "As miners, we have unfortunately left marketing to those outside our own companies and have allowed bullion bankers and speculators too much sway in determining the day-to-day price of gold," Mr Cambre said. AngloGold's fellow South African gold producer, Gold Fields, is also examining marketing options although its chief executive Mr Chris Thompson suggested the industry as a whole needed to obtain better information on the dynamics of the world gold market first. Mr Thompson favours providing the investing public with a mechanism by which it can gain exposure to the "gold contango". This would allow them to earn interest on the gold they hold by lending it to third parties. He said this would stimulate more demand for gold and hopefully drive prices up. afr.com.au