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To: T L Comiskey who wrote (49214)	4/1/2002 10:35:58 AM
From: Jim Willie CB	Respond to of 65232

ToolMan, if gold hits 320-330, massive short cover rally you cannot manage a price range for this long without consequence bigtime volatility is right around the corner I read metal pros claim that one full quiet week around 325, and a sudden move to 350 is coming but then most likely some profitaking out of the hides of the evildoers same thing with silver a full quiet week around 490-500, and suddenly 530 Bently expects silver to hit $15 by yearend I will be happy with half that rise / jim

To: T L Comiskey who wrote (49214)	4/1/2002 10:56:12 AM
From: Jim Willie CB	Respond to of 65232

Gold surges as punters wade in [gold mining firms have now joined Japanese as gold buyers !!!] By Michael Weir thewest.com.au HEAVY buying by panic-stricken Japanese investors has enabled the gold price, and Australian gold stocks, to finish the trading week on a high note. The bullion price surged above the psychologically important $US300-an-ounce mark for the first time in seven weeks, jumping $US5.90 to $US302.95/oz. In New York overnight on Thursday the gold price slipped slightly to $US301.40/oz but is still expected to lead the way for a continued rally when the next western sharemarket, Australia, trades on Tuesday. The Australian gold industry is confident the gold price can rally above $US300/oz and stay there for the foreseeable future. Last week's gold rally was put down to increasing tensions in the Middle East, short covering by European and North American investors ahead of the Easter break, but mostly the delicate Japanese financial situation. Asian investors have been buying gold bullion as an insurance policy as the government prepares to cap its guarantee on bank deposits. On Monday, the government-backed guarantee on bank deposits is to be capped at $US75,000. "Physical buying (in Japan) has been absolutely phenomenal," Australian Gold Council chief executive Tamara Stevens said. "The last quarter 2001 saw Japan import 32.5 tonnes of gold, which is half of Australia's quarterly production. "And that has continued into this quarter where this month they imported seven times more gold than they did the previous month. "So physical buying in Japan is having a significant impact on the price." The move by some gold companies to reduce their hedge positions has also had a positive impact on market sentiment toward gold this year. On Thursday the Australian gold index surged nearly 4 per cent, or 45.6 points, to 1322. Leading miner Newcrest Mining, a market favourite after recently revising upwards its resource at its Telfer operation in the Pilbara, jumped 13¢ to $6.30 on turnover of 5.4 million shares. The newly created AurionGold, gained 14¢ to $3.06, while Lihir Gold added 10¢ to end at $1.54.