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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Thomas F. O'Connor who wrote (526)	2/3/1998 10:13:00 PM
From: Ron Everest	Respond to of 8010

This silver comment was included in today's money daily: Feb 3, 1998 8:45 pm EST THIS JUST IN: BUFFETT BUYS SILVER!!! (or, he's no Bunker Hunt!).... That's right! Warren Buffett's Berkshire Hathaway has been buying up oodles of Silver (yes, as in silver dollar). Berkshire made the purchases between July and Jan. 12, and now owns some 130 million ounces! That 130 million ounces is worth some $845 million at the current price of around $6.50!!! Yowser!!!! So what does Buffett see in silver? Apparently, he's been following the metal for some 30 years and he finally became convinced that the supply-demand equation had been tipped in favor of the buyer. That is, it's undervalued!!! Silver got down to $4.60 or so an ounce in July. It hit a high of $50 in 1980. Why is Buffett revealing this? Because Berkshire "has received inquiries about its ownership of the metal..." OK. This may have something to do with a lawsuit filed recently by a silver short against Phibro (commodities arm of Salomon Smith Barney) and 10 other unnamed (!!) defendants. MAJOR HMMMM. As they are wont to say in my biz, this story has legs!!!! Buffet Story, Infoseek source infoseek.com Silver Rises to new Heights infoseek.com Silver hits 9 year high infoseek.com Check out Kitco AG prices, is this for real in Australia? Straight up all day! kitco.com or cnbceurope.com Looks for real to me, wow.......{:>)