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

To: PaulM who wrote (8704)	3/23/1998 12:57:00 AM
From: Broken_Clock	Read Replies (2) \| Respond to of 116762

Paul... Andy being a gold bear and all... Do you surmise he is indicating this is good or bad for POG? I read it that 3,700 excess tons would be bearish. Even ABX's 2,000 tons for coins wouldn't help. The only hope would be that all other PMs would rise past gold, then gold could be used in catalytic converters! -G- Maybe this scenario is too bearish on POG, even for Andy. PK

To: PaulM who wrote (8704)	3/23/1998 9:31:00 AM
From: Enigma	Respond to of 116762

Cold towel (con't) - does anyone know what the Euro central banks will actually DO after EMU?. They will continue to have currency reserves and hold gold as a true reserve asset. Before we can hazard any guesses as to what they might do with the (surplus?) gold (and currencies for that matter) they hold, we should know what their function is to be. The will look like central banks, taste like them, smell like them, but what will they do? There must be a reason why they don't transfer all their assets to the ECB - why don't they, in fact? Is there some plan to do so down the road?

To: PaulM who wrote (8704)	3/23/1998 9:38:00 AM
From: Bob Tate	Respond to of 116762

Read this propaganda <<<<Even so, buyers of silver are hardly rushing up to the plate. Despite the fuel cell talk and tight stocks now, a number of analysts expect silver to become increasingly plentiful over the coming months. "By the third quarter refined silver should be flowing into the London vaults," said Ted Arnold, precious metals analyst with Merrill Lynch in London. Silver producers, especially in Australia and South Africa, are cranking up production. At the same time, European refineries "are absolutely full with silver as they labour to re-refine it into good delivery London bars", he said. And on the demand side, the largest consumer in the world is virtually out of the market. "Demand for silver in India has slowed dramatically in the last six months and will likely go on slowing", Arnold said.>>>>> This guy is dreaming. There are very few pure silver production mines in the world. 90% of new silver production is by-product of gold production and some copper operations. All you need just see the facts that silver demand was outstripping supply for a decade. Banks do not store silver. << Cranking - up production. >> How??? Many operations producing silver as by-product closed down due to Au and base metals low prices. Since silver is usually small component in gold mines nobody will restart closed gold mine just because silver component appreciated 50%. India stops buying. With rupee down Ag may be more attractive than Au. But with all taxes reduced on metal import to India buying will go on. Comex silver stocks down by another 0.5 mil ounces , now bellow 90 mil. In fact studies on silver supply demand indicate there will be no significant supply increase bellow 10$ / oz. This has not happened yet. Price is bellow 10$ stoks continue to dwindle. Forward lease rates over 10%. Either Warren Buffet or this fellow is wrong. I would bet on Buffet.