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

To: Eashoa' M'sheekha who wrote (21596)	10/14/1998 1:27:00 AM
From: Alex	Respond to of 116764

Good as Gold Aired October 13, 1998 - 6:27 a.m. ET THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. JOHN DEFTERIOS, CNN ANCHOR: With global markets volatile, investors are hunting for safer havens. DEBORAH MARCHINI, CNN ANCHOR: Tony Guida takes a look at how investors are digging deep for value in gold mining stocks. (BEGIN VIDEOTAPE) TONY GUIDA, CNN CORRESPONDENT (voice-over): Call it a flight to value. Stock market turmoil, a crumbling bond market and a weakening U.S. dollar, are driving some investors into gold stocks. An anticipated production shortfall this year, on top of slowing central bank selling and a partial gold reserve requirement at the new European Central Bank, have driven gold prices up in the last six weeks. CLARENCE MORRISON, GOLD INDUSTRY ANALYST, PRUDENTIAL SECURITIES: People are waking to the fact that gold is not a safe haven, it's not a storehouse of value, it is a high-price commodity. But it has usage as high-price commodity. And it has its own cycle. And this is what has happened this time around, gold has been selling more because of its own fundamentals than it has been for many, many years. GUIDA: The making of gold products, everything from jewelry to gold coins to machine parts, is on the rise. And not surprisingly, companies that mine the precious metal have seen their stocks soar. Barrick Gold is up 63 percent in just six weeks. Battle Mountain Gold, Placer Dome and Newmont Mining are recording gains of 80 percent or more. JAMES MELCHER, BALESTRA CAPITAL: Buying gold stocks here can be considered two things: One is perhaps an insurance policy against a very serious financial downturn. And secondly, perhaps a way to make some money in a metal that's been in a bear market for about 20 years. GUIDA: But while stock prices for gold companies are shining, the earnings picture is more tarnished. Profits for many gold companies are expected to be flat to lower for the latest quarter, mainly because the price of gold is still down 12 percent from last year. GUIDA (on camera): Producers in countries with weak currencies will continue to sell gold and that, analysts say, will keep the price at about $295 an ounce for 1998, rising to just $320 an ounce by the end of the next year. Tony Guida, CNN Financial News, New York. (END VIDEOTAPE) TO PURCHASE A VIDEOTAPE OF THIS PIECE, PLEASE CALL 800-CNN-NEWS cnn.com

To: Eashoa' M'sheekha who wrote (21596)	10/14/1998 1:30:00 AM
From: E. Charters	Read Replies (2) \| Respond to of 116764

In 1950 I decided to go into self promotion. This has taken many forms. At first I appealed to my mother's good nature not in particular thinking I was the centre of any world. I then tried to make my teacher's see the error of my ways. I tried to convert my friends to my way of thinking and told them it would be their salvation. It is called a messianic complex. It may be complex but it cannot be said to be wrong. It is base on the theory that you always think that you are right with whatever little evidence you have. Too much data spoils the calculation. Ignorance and stupidity is the best curve smoothing. Still, travel broadens the mind. Gold is not moving. Do you know Holger-Neilsen? EC<:-}