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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Don craig who wrote (8389)	1/9/1998 1:19:00 AM
From: Richnorth	Respond to of 14627

In case you and others have not seen it yet, the following is posted for your info and interest. Most likely the drop in the price of silver is responsible for the drop in the share price of PFG. It certainly appears that PFG tends to move in lockstep with the pos. ******************************************************** Finance - Precious Metals Report for Thursday, January 08, 1998 A sharp slide in silver prices led COMEX and NYMEX precious metals futures to a mostly lower close across the complex Thursday. "Silver broke down on all sorts of talk about legal action against alleged manipulators of the silver market, but it's difficult to separate fact from fiction, and to file suit you have to be able to prove damages, and you can't prove damage just because the market went against your position," said Dinsa Mehta, Chase Manhattan managing director for global commodities. "Silver has often been a magnet for the push-it-about crowd, but any attempt to muscle-the-market has typically been shortlived, and the best you can say right now is that silver belongs anywhere between $4.50 and $6.00 an ounce," he said. Silver demand for use in photography, jewelry and industry has been exceeding mine supply for most of the decade, drawing down inventories build up in the 1980s, but many traders believe some banks and hedge funds have been taking advantage of the supply/demand equation to push prices higher, in a move reminiscent of the play in palladium last year. COMEX February gold ended lower, after seeing a new life-of-contract low at $279.00 intraday. Implied lease rates for gold eased further Thursday though to around 1.40 pct for one month and 1.55 pct for 12 months, reflecting ample liquidity from central banks funding fund short positions and producer hedging, traders said. (Reuters 05:01 PM ET 01/08/98) For the full text story, see infobeat.com ---------------------------GOLD------------------------------ COMEX - 100 troy oz _ dollars per troy oz. CONTRACT CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW Feb98 283.70 284.00 279.00 281.80 _2.90 424.00 281.80 Apr98 285.20 285.80 280.70 283.40 _3.00 408.40 283.50 Jun98 287.00 287.40 282.50 285.30 _3.10 470.00 285.00 Aug98 288.00 288.00 287.50 287.30 _3.10 403.80 288.40 Dec98 293.70 293.70 288.50 291.20 _3.20 506.80 291.50 Jun99 297.50 297.50 295.40 296.90 _3.30 499.40 301.20 Dec99 304.50 304.50 300.80 302.60 _3.40 506.00 303.00 Dec00 312.40 312.40 312.40 314.00 _3.60 474.50 321.50 Est. Sales 35241 --------------------------SILVER------------------------------ COMEX - 5,000 troy oz. _ cents per troy oz. CONTRACT CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW Jan98 566.00 566.00 566.00 572.80 _24.50 631.00 430.00 Mar98 603.50 605.00 564.00 577.30 _24.50 639.50 432.00 May98 603.50 603.50 567.00 577.80 _24.20 640.00 437.00 Jul98 589.00 590.00 566.00 577.30 _24.50 637.00 438.00 Dec98 595.00 595.00 566.00 576.30 _23.50 752.10 448.50 Mar99 575.00 575.00 575.00 575.00 _23.50 603.00 473.00 Dec99 575.00 575.00 565.00 572.70 _23.50 720.00 484.00 Est. Sales 12838