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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (5038)	12/7/2001 10:32:31 AM
From: Andrew Brockway	Respond to of 36161

George, I think what you're saying about the Rand is important. I think Kaplan is right when he talks about SA and Australia acting in their own best interest. "While hedging by gold producers has declined over the past several years, it could easily pick up rapidly due to currency fluctuations against the USD. Many analysts make the error of watching the lease rates and the forward rates without enough emphasis on the value of the currencies of the major producers of gold. Gold is in a absolute roaring bull market in South African Rand, and is still near its historic highs in Australia, and producers in those countries will naturally look at the market from their individual and internal perspectives, and will take the actions that will benefit their own firms." I bet you're having nice weather down there in S.C. Been nice here in Chapel Hill too. Cheers, Andrew