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To: Wyätt Gwyön who wrote (7128)	12/3/2002 2:46:59 PM
From: MulhollandDrive	Respond to of 306849

multiyear high in copper doesn't seem to jive with the latest automotive report....(cutting production)

To: Wyätt Gwyön who wrote (7128)	12/3/2002 2:50:13 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"multiyear highs in copper and gold due to drought?" The CRB is heavily weighted in the grains. So any drought affecting grains is likely to have a magnified effect on the CRB. Gold is a multi-faceted commodity but "multi-year" highs in gold really aren't historically high by any means. Likely no drought related anyway. Even in 1987 when the market crashed gold was over 500/oz. Copper is a base metal more indicative of certain types of industrial production. Maybe has something to do with electronics or plumbing at this time. JIm

To: Wyätt Gwyön who wrote (7128)	12/3/2002 3:42:36 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

You may want to get the prescription for your eyeglasses checked again. This chart shows copper prices from 1997 through today. awfraser.co.nz Prices are so low that many mines, especially those in Australia, have recently been closed. This modestly improved market psychology. Any sustained increase in copper prices will be met by re-opened mines, depressing prices longer term. The imaginative see this as a big upward move in both inflation and copper prices. The rest of us simply look at the chart of copper prices again, and chuckle.