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To: Superhawk who wrote (10623)	4/25/1998 12:24:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116789

>>He bases his analysis on the premise that, following the European currency union, the combinations of currencies and gold reserves will result in an excess of 4,000 tons of gold. >>> That is a strange point..4000 tons is only 1 year demand..Unless he is a privy to CB or ECU there is no way anyone can make that asumption.. As far as world demand it is at all time high and rising!! But we have heard $200 number before as well as 400 500 and 600... One point is clear $200 gold or $250 for any length of time would make any gold holder superrich in just few years as it would spell a demise of most of the gold and gold exploration industry..and total upheavil in a world such as South Africa..

To: Superhawk who wrote (10623)	4/25/1998 12:33:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116789

Stanbic(SBCJ.J) Dubai office banks on gold trade 07:54 a.m. Apr 25, 1998 Eastern By Hilary Gush DUBAI, April 25 (Reuters) - Standard Bank London officially launched its Dubai representative office on Saturday to capitalise on growing demand for direct imports of South African gold into the Gulf Arab emirate. Conrad Strauss, chairman of the bank's parent Standard Bank Investment Corp (SBCJ.J) (Stanbic), told a news conference direct imports of South African gold into Dubai grew to 54 tonnes in 1997 from 13 tonnes the year before. ''My impression is that figure will be significantly improved upon this year.'' With 1997 imports of 660 tonnes, Dubai is the world's biggest re-exporter of gold, mainly thanks to its proximity to India -- the largest consumer of the metal. South Africa is a leading bullion exporter, but has traditionally sent its product to Europe. ''South Africa has just become the number two supplier of gold to Dubai ahead of the UK, but we are still way behind the Swiss,'' said Jeffrey Rhodes, the Dubai general manager. ''But the equation is changing and will continue to change.'' Dubai customs figures show South Africa provided 20.25 tonnes of the total 153 tonnes Dubai first quarter imports. Rhodes expected the value of Dubai gold imports from South Africa to double this year from the $500 million seen in the last eight months of 1997. ''There will be no let-up in demand for gold from India,'' Rhodes said, forecasting consumption of around 800 tonnes this year. The World Gold Council (WGC) producer group puts Indian demand in 1997 at a record 737 tonnes. But traders in the Dubai gold souk are worried the continuing easing of gold import rules in India will mean less business for them. ''There is concern about what will happen to Dubai. I think (Dubai gold import) demand is on course to at least match that of 1996 -- 350 tonnes -- and I think demand will probably reach 500 tonnes,'' Rhodes said, dismissing talk that the bank might have come to the party too late. The Indian government in October freed up bullion import rules, authorising three state-run agencies and eight banks to import and sell gold freely in the domestic market. Since then one more nominated agency and bank have been added to the list, raising the number of Indian importers who have turned directly to European banks and bypassed Dubai. Apart from facilitating gold trade, Strauss said the Dubai office would also handle trade financing and offshore banking services. ''We hope to promote vigorous trade between our two important trading regions,'' he said. Standard Bank group economist Nico Czypionka said he expected the gold price to rise to $340 an ounce by year-end and average around $325 for 1998 as a whole. ((Gulf newsroom, +971 4 607 1222, fax +971 4 626982, dubai.newsroom+reuters.com)) Copyright 1998 Reuters Limited. All rights reserved

To: Superhawk who wrote (10623)	4/25/1998 12:36:00 PM
From: posthumousone	Respond to of 116789

CURBS IN: can someone please clarify this???? the curbs (little curbs symbol abovedow on cnbc) were on all day friday i dont get it, the market goes down 50 points and they put in curbs?? are curbs different from breakers?? i thought they didnt go in effect until 10% drop is this preventing a correction?? thank you

To: Superhawk who wrote (10623)	4/25/1998 2:19:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116789

Scott: Dessaur is just rehashing Andy Smith's anti-gold propaganda. If I were Andy, I would sue him for plagiarism. Andy has been pushing this argument for many months as gold and gold stocks took off.

To: Superhawk who wrote (10623)	4/25/1998 2:32:00 PM
From: Terry Rose	Respond to of 116789

Scott, The Privateer has a weekly gold commentary and at the beginning he states that to understand its price action you need to note that it is a "political" metal and that its price is "governed". Supply and demand rationale often does not apply to its price. Dessaur's comment that demand is contracting is false. Somebody has to be buying this extra gold ie. other central banks or private investors, otherwise Belgium, Australia would still have their gold. The last 299 tons of gold sold by Belgium was to five other central banks. Did Dessaur mention this? I suggest that you E-mail John Dessaur for data that documents his claim that gold demand is dropping, and if he fails to back it up consider asking for a refund on your subscription. Terry,

To: Superhawk who wrote (10623)	4/25/1998 3:23:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116789

Scott, <<All: John Dessauer, in his April 1998 "Investor's World" newsletter, entitled a section "Bigger Problems Ahead for Gold". >> I think he in incorrect because: First - any selling the Swiss do, must get the approval of the general populace - I do not think they will get it. Mostly because of history and but also _if the EU has large gold reserves, there will be a tendency (in my mind) for other countries to hold onto and increase their reserves. I believe the ONLY way the EU's currency will be taken seriously is if they hold a large gold reserve AND a large US dollar reserve (forleverage). The Europeans are still really pissed at the US for their dumping on the Bretton-Woods agreement .... they have not forgiven Nixon for crapping on gold in '71. That gave the US the opportunityto print paper until their heart's content ... something the Europeans have never forgiven the US for in my mind. In addition the US Treasury in concert with the IMF altered its articles in 1978 to suspend gold as the ultimate means of settlement ... according to Timothy Green, in his book "The World of Gold" this essentially "froze" the gold in European banks as a fluid means of settlement. Most attempts to have gold return to its previous position, have been met with some sort of US intervention - which ultimately lead to the US dollar remaining as currency numero uno. There is no doubt that over the last 50 years the US has just about done everything in its power to demonitize gold - to the benefit of the US and to a large extent to detriment of everybody else. Second - even if there is a surplus of gold, I suspect that most of it will be sold to other CB's. Third, a fall to that level would shut down 99% of the world's gold producers ... that would eventually lead to an elastic band effect that would eventually propel gold to the moon ... I do not think most paper-bound economists want to see that happen. Fourth, I believe the Japanese, with their large US reserves, will sell some off some and replace with Euros. I do not know how much, but I think they will also buy gold too. Essentially what we have unfolding before us now, on a global scale, is a contest between 3 currencies ... the dollar, the Euro and the Yen. The Yen and Euro by themselves are not strong enough to displace the dollar - but a concerted attack by the Japanese and the Europeans on the dollar ... that is a different ball of wax. When we had a cold war ... we needed a "balance of power" .... well, we still do - only this time it is an economic balance of power. Some of my thoughts, MB

To: Superhawk who wrote (10623)	4/25/1998 5:43:00 PM
From: MtnBear	Read Replies (2) \| Respond to of 116789

<<John Dessauer, in his April 1998 "Investor's World" newsletter, entitled a section "Bigger Problems Ahead for Gold". He asserts that there is an enormous supply of gold coming into the market via Central Bank selling. At the same time, he states, demand is shrinking and will continue to shrink for the next several years. He sees the price of gold at $200 or lower.>> Who is BUYING???? If demand is shrinking, why the current bottom (NOW IN PLACE!!) and gold stocks/gold mutual funds all breaking above their 200 day moving average?? For those not technically inclined, a stock price chart which has been a long price decline (as Gold has), puts in a bottom (ditto), and breaks above the 200 day moving average, USUALLY (nothing is certain in this world) signals the beginning of an up trend of some duration IMO at least 6 months, more likely a year. If you are a non-believer, look at some long duration charts with the 200 day MA from back when previous bear markets had occurred either in the individual stock or the general market; not just gold!! These indicators work for gold also!! Just so you know that the reverse is also true, a break back below the 200 day MA after a sustained rise is very serious, and is why no one should have held gold stocks during this last bear market in gold!! OK, off my soap box!! Best Regards, Mtn Bear PS: Had not read all msgs before posting; just one more comment re E. Waves: I Get See Sick 'cause I can't interpret "em!!!