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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Keith Utz who wrote (1777)	12/9/1997 8:01:00 PM
From: bill718	Read Replies (1) \| Respond to of 4718

Latest on gold: Gold touched $281 per ounce at 10:57 a.m. EST Tuesday, its lowest spot price since June 4, 1979. Updated @ 5:25 p.m. EST, Tuesday, December 9, 1997. COMMENTS OF THE DAY: Commodities rallied moderately after a lower start on Tuesday, while precious metals were mostly lower. Gold dropped $5.10, silver bucked the trend by gaining 5.3 cents. Bearish opinion about gold is nearly at a consensus, actually becoming gloomier with each drop in its price. The remainder of the precious metals complex, not subject to the artificial downward pressures of heavy central bank loans and short selling, are responding positively to market supply and demand fundamentals which will eventually rule for gold as well. It is expected that China will change its long-held policy of requiring all mined gold to be sold to the government directly, in order to encourage foreign investment. Gold will become freely tradeable once new gold mining regulations are implemented, probably in early 1998, according to unofficial reports from the China Mining Conference. ******************************************************************* Today's bottom on ANZ was.44 ending with very good support up to that level, but if this trend on gold continues I forsee a mass sell-off of all gold stocks in the short run as people head for the door. This will include ANZ and the only thing that could possibly hold it up is huge demand, but where is that going to come from with most analysts telling their customers to stay away from gold at the moment. W. Wolinski