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

To: goldsheet who wrote (91116)	11/12/2002 11:36:48 AM
From: goldsheet	Read Replies (1) \| Respond to of 116825

At least there isn't much gold byproduct in platinum mines ;) S.Africa '02 platinum output at record high-Matthey JOHANNESBURG, Nov 12 (Reuters) - South Africa, the world's leading platinum supplier, will produce a record 4.44 million ounces of the metal in 2002 on booming expansion and next year could see output rise further, refiner Johnson Matthey said on Tuesday. The South African platinum industry, which produced 4.1 million ounces in 2001, is expanding rapidly, inspired by strong prices for the metal, which is used in autocatalysts and jewellery. "Platinum supplies from South Africa are expected to increase substantially again in 2003...," Matthey said in its Platinum 2002 Interim Review. FULL: biz.yahoo.com

To: goldsheet who wrote (91116)	11/12/2002 12:05:58 PM
From: long-gone	Read Replies (1) \| Respond to of 116825

don't you suspect part of the costs were related to reduced normandy hedge book & their returns would have been better without the costs?

To: goldsheet who wrote (91116)	11/12/2002 1:07:39 PM
From: Real Man	Read Replies (1) \| Respond to of 116825

That's true. I see a lot of call positions on gold majors, combined with put positions on XAU, so I'm no longer sure if we have a bounce that high on XAU. Could be back to the trend line, which makes your 70 XAU top. On the other hand, as XAU November puts are rotated into December puts, this may eliminate the opportunity that existed on the short side of the trade. The key is the dollar, which bounced from 103.54, a long term trend line (ino has wrong quotes). If the dollar decides to break it and fall now, gold will go to 360 and XAU will improve a lot now. If it decides to have a stronger bounce, gold will fall, probably into mid-December. I have no doubt that 103.5 support will be broken for the dollar eventually, but the bounce will buy some more time for it.