Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (90714)	10/21/2002 9:45:37 PM
From: ild	Respond to of 116815

The Indian buyer is firmly back in the market, having become accustomed to the higher price ranges. Traders are reporting that sales of ten tola bars (the traditional investment bar in India, weighing 3.746 ounces) are clipping along, with imports currently standing at 11,000 daily and that this could reach 15,000 bars per day by the end of the week. This is a period of strong seasonal purchase, with Diwali only a couple of weeks away, although the poor monsoon this year will have an impact on offtake overall, with the grain harvest likely to be down by more than 18% this year.. gold.org

To: long-gone who wrote (90714)	10/21/2002 11:03:46 PM
From: goldsheet	Read Replies (3) \| Respond to of 116815

> just asking if you think the downside has now ended? No. Let's review my previous comments: Statement: Downside risk from XAU 60 is very minimal Explanation: Minimal, for me, could be 5-10% (XAU54-57), consistent with my previous statement we could hit the 55 target suggested by another poster. Upside looks more like 20-25% (XAU72-75), making the reward-to-risk ratio acceptable. Disclosure: I currently do not own any precious metal bullion or any precious metal stocks, not have any short positions.