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

To: long-gone who wrote (89310)	9/5/2002 3:33:56 PM
From: goldsheet	Read Replies (1) \| Respond to of 116753

If FCX was up $2.00, the XAU would be up about 0.46

To: long-gone who wrote (89310)	9/5/2002 3:58:44 PM
From: marek_wojna	Read Replies (1) \| Respond to of 116753

Good for the Arabs, good for the CRB, good for the gold, good for the bears. Starting war in this environment would be craziest thing anybody can imagine. No matter now if there is a war or not gold is a pure winner. CRB will do it, and above all growing US deficit. <<Arab States Warn Against Iraq Attack Email this Story Sep 5, 2:18 PM (ET) By SARAH EL DEEB CAIRO, Egypt (AP) - The head of the Arab League warned on Thursday that a U.S. attack on Iraq would "open the gates of hell" in the Middle East, as Arab states backed Baghdad in the face of American threats. While expressing their opposition to any attack on Iraq, Arab League foreign ministers issuing a resolution after two days of talks here also refrained from putting any direct pressure on Baghdad to readmit U.N. weapons inspectors - though some Arab governments have urged Iraq to do so to defuse the crisis. The resolution brought a diplomatic victory for Baghdad, which has been looking for international support against the possibility of a U.S. attack to oust Iraqi leader Saddam Hussein. In the final statement, the ministers registered their "total rejection of the threat of aggression on Arab nations, especially Iraq," adding that a threat to any Arab country was "a threat to Arab national security." Arab League Secretary-General Amr Moussa said any such military action would "open the gates of hell in the Middle East." The Bush administration says Saddam must go because of his alleged drive to develop weapons of mass destruction, and it is considering military action but says it hasn't made a decision yet. Moussa urged Iraq to allow a resumption of U.N. arms inspectors, saying that doing so would be an "important step toward showing the world whether there is indeed a violation of the Security Council resolutions." "This would be crucial for what kind of next step should be taken," he told reporters after the meeting ended. "Iraq has asserted that she has no plans for rearming, especially with weapons of mass destruction," he said. The final statement worked out between the ministers from the league's 22 members, however, made no direct mention of inspectors. It instead applauded Iraq for its "initiative to renew dialogue with the United Nations" and called for an end to U.N. trade sanctions imposed to punish Iraq for its 1990 invasion of Kuwait. The U.N.-Iraq dialogue has been deadlocked over the issue of the inspectors, who must confirm whether Baghdad has eliminated its weapons programs before sanctions can be lifted. Iraq has prevented them from entering the country for nearly four years. Iraq says it is ready to discuss a resumption of inspections, but only in talks that will also deal with ending the sanctions and restoring the government's sovereignty in northern and southern Iraq. The United Nations has said the return of inspectors must be the priority. Secretary-General Kofi Annan declined last month to hold further negotiations with Iraq until it accepts the resumption of the inspections. League spokesman Hisham Youssef said the issue of a return to inspections was indirectly mentioned in the final communique when it referred to the need for full implementation of the U.N resolutions. Youssef said the foreign ministers had been persuaded Iraq was working toward that goal and because Iraq wanted the United Nations to address its concerns the inspectors could act as spies and that the inspections might never end. "We believe these Iraqi concerns are legitimate," Youssef said. Nabil Shaath, the Palestinian planning minister, told reporters that if the Untied States does attack Iraq, Israeli Prime Minister Ariel Sharon could use it as an excuse to crack down even more on the Palestinians. A leading Iraqi newspaper owned by Saddam's son urged the league Thursday to adopt a clear stand against the United States. The newspaper Babil said Washington was "attempting to target Iraq as a first step toward controlling the whole Middle East region." Syrian Vice President Abdel Halim Khaddam said Thursday that a U.S. attack on Iraq would have "disastrous consequences, not only for Iraq but in the entire region and beyond." Khaddam spoke after talks in Paris with French President Jacques Chirac. France and several other U.S. allies in Europe have come out against an attack on Iraq. The strongest backer of the United States has been Britain, and Prime Minister Tony Blair meets with Bush over the weekend. Facing calls for a debate in Parliament over military action, Blair underlined Thursday that he will consult with legislators eventually, but not yet. "There is no question of U.K. troops being committed to military action without the fullest possible opportunity for Parliament to be consulted. We are not at that stage," a Blair spokesman said.