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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (49050)	3/27/2002 4:01:15 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

a view on gold from Reuters "Shares in gold companies are rising because of the jump in gold prices. The fundamentals are quite good and and I am optimistic about the sector, said Geoff Stanley, an analyst at BMO Nesbitt Burns. Gold prices surged because of a leveling off of production, the decision by leading miners such as South Africa's AngloGold to wind down hedging practices, which were seen as a brake on prices, and fears over tensions in the Middle East, said analysts. Spot gold last traded at $301.90 an ounce, up more than $5 from New York trading levels late on Tuesday. The last time gold prices broke the $300 per once barrier was in February, when inventors turned to gold after being spooked by the collapse of energy trader Enron Corp, the fighting in Afghanistan, and the health of the Asian economy. Shares in gold miners also surged during the last rally, only to give up most of these gains two weeks later as gold prices fell. Some analysts think the same outcome may happen again. ``Anxiety rallies or political tensions rallies are inherently unsustainable,'' said Prudential Securities analyst John Tumazos, who said many of the miners may give up today's gains in the next few weeks. ``These type of rallies are hard to stay on top of.'' -end- MarketWatch's Thom Colandra promised to dye his hair blonde if and when gold closed over $300 for five consecutive days get the bottle ready, Thommy Boy Morgan Stanley is smart to issue bonds anyone buying them is naive about the near future I expect Fed rate hikes will stall the economy later this summer, and torpedo the stock market if not torpedo, then smother it / jim