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To: Tom Smith who wrote (196)	4/9/2002 6:46:06 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 329

Is this guy calling for POG of 10,000/oz? He MUST be hooked on the glue bong! 216.46.231.211 The fund manager Piet Viljoen, chief investment strategist at Investec Asset Management in Cape Town, says there still appears to be room in the gold price for upward movement. "The technical picture for gold looks like it is turning, but that is going to be a long process. There are huge vested interests in keeping the gold price lower; a lot of producers can't afford for the price to rise too much," says Viljoen. Viljoen has a novel way of rating the gold price relative to equity markets; simply by dividing the Dow Jones Industrial Average by the gold price. "The gold price relative to other financial instruments is pretty cheap at current levels, the Dow can buy you 34 ounces of gold," said Viljoen. Viljoen says in gold's heyday, in the 1970s, the Dow would buy close to a single ounce of gold, while at its worst level in 1999, the index would fetch around 50 ounces. He believes the trend will head back toward a long term average through a combination of a weaker Dow and a firmer gold price. Viljoen says South African gold shares are looking pricey with the index at 2637, but says he will "buy into weakness". "I definitely wouldn't be selling," says Viljoen.