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

To: Cactus Jack who wrote (52414)	5/31/2002 8:45:50 AM
From: stockman_scott	Respond to of 65232

08:30 ET CIBC upgrades gold stock ABX; lowers KGC CIBC World Mkts upgrades Barrick Gold (ABX) to BUY from Hold on valuation (target $27), while downgrading Kinross Gold (KGC) to BUY from Strong Buy following run (target $3.25)... Firm raises its 2002 gold price forecast to $315/oz from $300 and its 2003 forecast to $350 from $325. Believes all the fundamentals are in place for a sustained rally in bullion. Firm's top picks are NEM and GLG.

To: Cactus Jack who wrote (52414)	5/31/2002 9:04:05 AM
From: stockman_scott	Respond to of 65232

'Gold run a load of bull' – Comments from an analyst at Mitsui Global mips1.net <<...To conclude, Smith returned to one of his favourite themes – the possibility that eventually gold would go the way of silver. For many decades central banks used silver as their main physical asset but abandoned the "silver standard" in the late 19th century. "Silver fluctuated since then about a commodity price parity, despite strong official buying from time to time," he pointed out – and despite the efforts of the Hunt brothers and Warren Buffet when they bought big quantities of physical silver. The central banks started seriously to sell their gold stocks late in the 20th century, Smith pointed out. If, as a consequence, gold "catches down" with silver, the price would eventually settle at US$68 an ounce...>>