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

To: Terry Rose who wrote (3827)	12/4/1997 10:04:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 116753

I just did a walk through on few senior gold stocks. BMG, ABX, ASL, NEM...Wow!!! The call options are so cheap it's beyond ridiculous. for $1,610 you can tie up 1,000 shares of ABX all the way out to January, year 2000 at $25/share strike price. To put it in perspective...two months agos ABX was $25. All an investor needs is for gold to get back to $330(2 months ago price) by year 2000. Gee, that sounds risky...NOT! Risking $1,650 to own 1,000 shares of the world's premier Gold compamy 2 years from now is a no brainer. I'm there folks. I can't count on ol' Uncle Sam to ever give me back my Social Security but this bear in gold is just what I need to salt away a little retirement nest egg. Look at a chart of ABX...pushing the price down has been like pushing a beach ball under water...the deeper you go the harder it gets. I hope gold does hit $250...when it releases just stand out of the way or you'll get blasted.

To: Terry Rose who wrote (3827)	12/5/1997 10:14:00 AM
From: goldsnow	Read Replies (1) \| Respond to of 116753

News Alert from Dow Jones Online News via Quote.com Topic: Barrick Gold Corp Quote.com News Item #4721426 Headline: Gold Stocks Fall To 52-Week Lows, But Analysts See It Bottoming ====================================================================== By Rebecca Wolf Staff Reporter NEW YORK -(Dow Jones)- Most gold stocks dropped to 52-week lows Thursday as the price of gold continued to fall. But analysts say they expect gold to bottom out in the next few weeks, and see an upturn at the new year. In London, gold was fixing at $289.35 an ounce Thursday afternoon. Gold prices roared to $800 an ounce in the 1970s and 1980s as inflation dominated investors' minds and undermined confidence in the value of the dollar. It began to fall in the 1990s, and last year fell from the low $400s to the mid-$300s, and has been steadily decreasing ever since. Analysts attributed the drop in the price of gold to selloffs from the central banks as well as from individual investors. "It's just plain ugly," said Steven Porter of Elliott Wave International. "There's been a blowout." But Porter said he expects to see an upswing at the start of 1998. "From a technical perspective, gold is entitled to a sharp-snap rally," he said. ABN AMRO Chicago Corp. analyst Todd Hinrichs agreed. "In the next two to three weeks, we should see a bottoming out (of gold prices)," he said. "But then prices should firm up." Hinrichs said one reason he expects gold prices to increase is that "many mines are insolvent." As production decreases, he said, supplies will be lower. The demand for gold, which increases especially at lower prices, will then put upward pressure on prices, he added. Until gold prices improve, most of the stocks in the sector will likely be weak, analysts said. Virtually all large-cap gold stocks were trading down Thursday afternoon, and most fell below 52-week lows set earlier this week. Leading the losses was Amax Gold Inc. (AU), which was trading down 12.5 cents, or 5.9%, at $2 - the level of its previous year low set Tuesday. Placer Dome Inc. (PDG) was down 68.8 cents, or 5.8%, at $11.125. Earlier, it had dropped to $11.063, below the previous 52-week low of $11.75 set Wednesday. Coeur D'Alene Mines Corp. (CDE) was down 37.5 cents, or 4.7%, at $7.688, below the year low of $7.875 set Wednesday. Battle Mountain Gold Co. (BMG) was down 18.8 cents, or 4%, at $4.50, below its 52-week low of $4.625 set Wednesday. Newmont Mining Corp. (NEM) was trading down 93.8 cents, or 3.2%, at $28.375, below its low of $29.313 set Wednesday. Barrick Gold Corp. (ABX) was down 43.8 cents, or 2.7%, at $16. Earlier, it had falled to $15.875, below the 52-week low of $15.938 set Monday. Homestake Mining Co. (HM) fell 25 cents, or 2.5%, to $9.75, below the year trough of $10 set Wednesday. Remaining above its 52-week low of $2.063 set Monday was Echo Bay Mines Ltd. (ECO), which was trading down 12.5 cents, or 5.4%, at $2.188. Copyright (c) 1997 Dow Jones & Company, Inc. All Rights Reserved.