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

To: lorne who wrote (77942)	10/4/2001 9:11:30 PM
From: lorne	Read Replies (1) \| Respond to of 116909

Gold price to remain subdued - GFMS Posted: 09/19/2001 06:00:00 AM \| © 1997-2001 JOHANNESBURG - Unless a fully fledged investor-led recovery in gold as a safe haven develops, prices are expected to remain subdued in a $260-$285 an ounce range as a slowdown in the world economy undermines fabrication demand. Gold Fields Mineral Services (GFMS) reports that it expect prices for the rest of the year to trade between $260-$285. It said, however, any such forecast must come with a huge caveat as the full impact of the terrorist attacks in the United States has yet to become clear. GFMS MD Philip Klapwijk said: "There's an obvious upside for the price should an investment-led recovery gather pace. But only if gold can fulfil and sustain its traditional safe haven role". His concern was that should it fail to do so, broader disenchantment with gold as an investment medium could set in, undermining longer term price support. A second concern was singled out. "If recent events prick the bubble of consumer confidence in the United States, its economy could experience a more pronounced and lengthy downturn." This was seen as further weakening fabrication demand both at home and abroad as faltering imports transmit the US slowdown to other, export-led economies. A combination of such possibilities leads GFMS to forecast that the full year price average could still dip below $270. (The gold price averaged $265.62 for the first half of 2001.) mips1.net