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

To: long-gone who wrote (57550)	8/22/2000 8:43:26 AM
From: Rarebird	Respond to of 116960

Hutch is a gold bug IMO. Gold Bugs come in all different shapes and forms, Richard. Why does a gold bug have to be bullish on gold all the time if the economic fundamentals speak otherwise? By economic fundamentals, I mean primarily currency exchange rates, which determine the POG. I think a true gold bug should focus on all the factors that influence the POG and be honest in their assesment, whether bullish or bearish. Why can't a gold bug be short term or intermediate term bearish on gold? I see nothing contradictory in that.

To: long-gone who wrote (57550)	8/22/2000 9:24:07 AM
From: lorne	Respond to of 116960

Indian Gold-Festival season lifts demand 08/22/00 AHMEDABAD, India, Aug 22 (Reuters) - Demand for gold in India, the world's largest consumer, is expected to get a boost in the weeks ahead as buyers begin purchases for the festival season, traders said on Tuesday. ``There has been some buying activity in the last week and we expect demand to rise in the next one or two months,'' said Amar Singh, a trader at Vishal Exports Overseas Ltd. India's gold demand peaks during the wedding and festival season that begins in September. ``In September and October we are hoping to do good business because people are going to boost purchases for weddings,'' jewellery maker Harsh Shah said. Rural consumers make up the bulk of India's gold buyers. Domestic gold demand had been hit in recent months due to a severe drought in western India and the weakness of the Indian rupee against the dollar. Imports through Ahmedabad, the main importing centre, fell to 9.07 tonnes in July against 14.81 tonnes in same month last year. Ahmedabad accounts for 35 to 40 percent of country's gold imports. India officially imported 573.8 tonnes of gold in calendar 1999, down from 613.7 tonnes in 1998, according to the industry-funded World Gold Council. Traders said if the latest levels of the rupee and international gold prices held they were likely to further boost demand. The Indian rupee, which had lost 5.6 percent at its low from its January levels, has partly recovered against the dollar. Now trading around 45.71 per dollar, the rupee is down less than five percent. International gold prices hovered around $272 to $277 an ounce in the last few weeks which Indian importers said was an attractive level for investors. ``This is a very good level provided the rupee is stable like it is now,'' Singh said. Bankers said 2,000 to 2,500 bars of 116.64 grams each were being daily imported at the Ahmedabad airport compared with 1,000 to 1,500 bars in July. In Ahmedabad, gold prices on Monday were down 200 rupees at 52,700 ($1,153) compared to the previous close. ($1-45.71 rupees) live.altavista.com