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

To: re3 who wrote (84780)	4/26/2002 8:49:35 AM
From: Square_Dealings	Respond to of 116810

Climbing a wall of worry -g- The dollar is starting a new trend DOWN I been trading gold from 255 and at that time the trash talk was we were going to crash below 200. Long and strong M

To: re3 who wrote (84780)	4/26/2002 8:54:14 AM
From: Enigma	Read Replies (2) \| Respond to of 116810

I'm not quite sure what you mean about Bob - who is a wonderful contributor to this thread. AS for Doug I can't imagine this thread without him - in spite of everything. He's a fixture.

To: re3 who wrote (84780)	4/26/2002 1:03:42 PM
From: goldsheet	Read Replies (2) \| Respond to of 116810

I do not just make this stuff up, I read hundreds of press releases and production numbers coming out for both gold and silver in the first quarter remain quite impressive. As a result, I do not see the always predicted decline in gold production coming, and was most pleased to see that GFMS actually predicted a slight rise in gold production in 2002. You do know last year the combined mine production, scrap, and central bank sales exceeded weak demand ? We had a little over 100mt of surplus that had to be sucked up by miners covering hedges. On the silver side, demand remains relatively flat in a weak economy, while place like Mexico and Peru continue to see 10% annnual production gains. On that basis I thought gap may be under the 100moz expected by the Silver Institute. This quarter, however, I have been REALLY surpised by silver production number so am thinking of a 50moz gap in 2002 and damn close to ZERO in 2003. The stockpiles that were almost depleted over the last decade may not get depleted, and we still always have Chinese dumping to worry about. DATA: Agnico Eagle just reported 724,000 ounces of silver production versus 634,000 in the same quarter last year. BHP Billiton reported 11.073moz of Q1-02 silver production, which is up 20% from Q4-01 (9.209moz), and up 62% from Q1-01 (6.824moz) At this rate, they could produce as much as 44moz in 2002 versus 33moz in 2001, 11moz is a substantial amount. Noranda mined 3.65moz of AG for Q1-02 versus 3.2moz for Q4-02 versus2.1moz for Q1-2001 Peru: : "Silver production in March was 237,413 kgs, an increase of 12.4% compared with 211,239 kgs in the same month a year earlier. Higher output at the large mines, such as the Antamina mine, the Yanacocha mine and Volcan Compania Minera, pulled up overall silver production, the ministry said. Silver output in January-March period was 657,471 kgs, up 5.2% from 624,923 kgs last year"