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

To: IngotWeTrust who wrote (97440)	4/13/2004 3:59:57 PM
From: goldsheet	Respond to of 116912

Penoles remain #1, about 50moz producer, almost 80moz refiner. Silver never seems to have strong buyers to stick with it like gold. Much more speculative, emotional, and really an industrial metal, IMHO. Besides, everyone claims to have a profitable silver deposit, if silver could just stay over $6 long-term. This overhang of potential supply alone should be enough to push it back under $6. .... but ..... it is nice to know we agree on something. "Re gold top...I believe this is the 4th visit up to the $430 area. I'm on record as to it penetrating that level, with gusto and sooner rather than later, and most assuredly before 12/31/04<grin>" I saw 431.50 in early January and 433.00 in late March. We still disagree on gold becasue I see the dollar story as old, it bounced off 85 nicely, and if the US economy continues to recover the US dollar should stay 85-90 area and gold in the $400-420 area. The next story should be inflation, which I do not see until commodity prices work further into the economy. I see gold over $430 later rather than sooner, and seriously think we may have seen the 2004 top at $433.

To: IngotWeTrust who wrote (97440)	4/13/2004 4:03:20 PM
From: goldsheet	Respond to of 116912

lbma.org.uk

To: IngotWeTrust who wrote (97440)	4/14/2004 1:24:54 PM
From: goldsheet	Read Replies (1) \| Respond to of 116912

This scenario is what I was talking about yesterday (and actually late last year), although I was suprised to see it happen two days in a row: "NEW YORK, April 14 (Reuters) - A surprising jump in U.S. inflation sent bonds down and the dollar up on Wednesday, but U.S. stocks traded near break-even as investors weighed the chance of an early interest-rate hike against the likelihood of strong corporate earnings. It was the second straight day that U.S. data took the markets by surprise. On Tuesday, an unexpected jump in retail sales hit equities and government debt and drove the greenback up." Any similar news to indicates continued strength in the US economy should be enough to keep the US dollar up and hinder/delay any rise in gold prices. Gold is now back to $400 (went $396.70 intraday), and silver to $7 ($6.82 intraday)