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

To: Don Lloyd who wrote (84480)	4/17/2002 7:10:36 AM
From: long-gone	Respond to of 116815

Gold Council Chairman: Gold Supply In Decline, Demand Rising Wed Apr 17,12:10 AM ET MELBOURNE -(Dow Jones)- World gold production is likely to remain flat or decline over the next decade, posing no threat to a rising gold price, AngloGold Ltd. (AU) Chief Executive Bobby Godsell said Wednesday. "It is much more likely that gold production is going to be flat and declining in the next 10-15 years, rather than rising as it did very substantially, by 50% , over the last 15 years," Godsell told reporters at a meeting of the World Gold Council, of which he is chairman. "New mine supply is at worst neutral, and at best a positive factor for the gold market," Godsell said. Godsell said the previous major gold discoveries of the 1980s are nearing the end of their reserve life, and exploration spending by miners is declining. On the demand side too the fundamentals of the gold market are improving, Godsell said. He said poor perceptions of gold's investment appeal are changing in the wake of global uncertainty in other investment sectors. "The idea that gold is a lousy investment, the idea that equities will carry on rising forever, the idea that currency systems have no risk, the idea that countries like Japan and the U.S. can't face a banking crisis - I think all of that has changed," Godsell said. In a move to promote gold as an investment vehicle, Gold Council Chief Executive Haruko Fukuda said the council plans to launch shortly some new gold- backed investment products to attract institutional investors. "The first set of products that we would hope to bring to the market, probably in partnership with banks and so on, will be sold in significant enough quantities that will be attractive to major institutional investors," Fukuda told reporters. She said it is premature to release details of the products, but that they will be launched "fairly shortly." The council is hopeful that if the products are successful, investment banks will be inspired to create their own gold-backed products, Fukuda said. -By Andrew Trounson; Dow Jones Newswires; 6 1-3-9614 -2664; andrew.trounson@ dowjones.com story.news.yahoo.com

To: Don Lloyd who wrote (84480)	4/17/2002 10:23:48 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 116815

I've come to the conclusion that no paper currency can be backed by gold permanently. The gold backing will be valueless until its needed, but the need will be caused by improper govt. behavior which will lesson the likelihood that the currency will be redeemed The US dollar was backed by gold (sorta) until Roosevelt repudiated it. The only way to look at currency is as a 3 party association, not as a contact. 1st the govt. issuing the stuff<< inflate or deflate 2nd some entity somewhere that will be willing and able to accept the stuff<< in prison cigarettes, not currency have value those two have an implied and unenforceable obligation to you, the currency holder. Gold can be used as a mine canary as any currency is a derivative, at best