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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (26022)	11/14/1997 1:58:00 PM
From: Bob Jagow	Read Replies (2) \| Respond to of 35569

CC, At least Ag is on the move. They mention EK backing off on digital photography as one factor-Bob Silver Futures Prices Leap On Hints of Tight Supplies By PALLAVI GOGOI and AARON LUCCHETTI AP-Dow Jones News Service NEW YORK -- Silver futures surged on the Comex division of the New York Mercantile Exchange, with falling warehouse stocks and rising lease rates pointing to a tightness in supplies, observers said. That supply tightness fueled talk about a deliberate "squeeze," whereby holders of physical silver attempt to push up prices by holding onto the metal as prices rise. However, some analysts said the rally had more to do with the market's strong fundamentals. Silver for December delivery leapt 23.2 cents to $5.135 a troy ounce in a 4.7% jump that brought the metal to its highest close in one month.

To: Claude Cormier who wrote (26022)	11/14/1997 3:02:00 PM
From: Walt Holberg	Respond to of 35569

Claude, Bob, Eric: I'd be ecstatic if gold were restored to it's former glory (especially glory at $800/oz). After all, I still have a pile of Krugs in my safe deposit box which I bought at $675 each. But the forces against gold seem relentless. I observe the current scene with sadness, like watching an old hero become a has-been. I shudder to think of what level of crisis would be needed to bring it back. A story in today's NYT details the banking crisis in Indonesia. 16 private banks shut, with more to follow. Depositors are allowed withdrawels of $5700 max. The rest must await liquidation of assets. Trouble is, they'll be buying food instead of gold with that amount. Maybe their neighbors will panic and start a run on gold. Let's hope I don't have to stick my IPM shares in the safe dep box with my Krugerrands to wait for a better day. Since it's sleeting and cold and miserable here in New England, I'll just say TTTMA - tentatively to the moon alice (minus the exclamation point) Walt