Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bobby Yellin who wrote (6209)	1/18/1998 9:53:00 AM
From: lorne	Read Replies (1) \| Respond to of 116789

$A, gold, shares up, buyers confident Monday, January 19, 1998 By TOM ALLARD and wires Offshore trading activity over the weekend has local financial markets primed for a strong open today after the price of gold surged, Wall Street rallied and the Australian dollar leapt more than a cent in US trading. But Asian developments will loom large over Australian financial markets, as they have for months. Investors will be watching Indonesia closely, as it is expected to announce reforms of its beleaguered banking system this week. Optimism about Asia was behind a 2 per cent leap in the gold price after the close of domestic trading on Friday. The spot price for gold closed in Hong Kong on Saturday at a high for the year of $US290.85, up from the previous finish of $US288.05. Gold futures contracts rose further, indicating traders see higher prices ahead. Gold for delivery in February jumped as much as $US10.20 to $US296.60 in New York before settling at $US291.10, an increase of 1.5 per cent or $US4.70 an ounce. Other commodity prices, especially base metals, rose along with gold, laying the groundwork for a good rise in resource stocks today. The Australian dollar was swept along in the optimism. It rose sharply from its local Friday close of US65.72c to end in New York at US66.2c, after hitting US66.80c.

To: Bobby Yellin who wrote (6209)	1/18/1998 6:09:00 PM
From: Abner Hosmer	Read Replies (2) \| Respond to of 116789

GRI has undertaken a study to examine the factors that will affect oil prices over the next few decades. The report on this work, "International Petroleum Price, Supply and Demand Projections Through 2020" (GRI-95/0440), argues that past oil price projections were biased upward based on an incorrect assumption of declining non-OPEC production. Correcting for this supply pessimism provides a projection in which oil supplies remain in surplus over the long-term and real oil prices do not increase. gri.org