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.

Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (2326)	11/25/1998 8:04:00 PM
From: Pete Mimmack	Read Replies (1) \| Respond to of 81187

And a happy Thanksgiving to you, too, Bill. Nice of you to stop back in after a break. Was concerned that we might have lost you to the "big time"! Pete PS - Niceties aside, I still want my Bills to beat your Patriots this weekend. Grew up in Buffalo and turned 12 the year you were playing. I'm sure I saw you, since I watched every game back then.

To: Bill Murphy who wrote (2326)	11/25/1998 9:21:00 PM
From: Robert Dirks	Read Replies (1) \| Respond to of 81187

Hi Bill, nice to hear from you again. Happy Thanksgiving, and lets hope Gold advances (very soon) to where we know it should be. Just found this interesting news item. I remember Barrick was planning to mint 2000 tonnes of Y2K commemorative coins in 99 but haven't heard anything since on that. Wednesday, November 25, 1998 World gold producers seek to revive battered market JOHANNESBURG, Nov 25 (Reuters) - The world's biggest gold producers are seeking to draw up a battle plan in early 1999 to revive a bullion market battered by speculative trading in the past year. The move follows a private meeting of executives from 20 leading gold miners, including South Africa's AngloGold Ltd and Canada's Barrick Gold Corp , to discuss problems facing the industry. "We would be interested in a great deal more transparency in our market," said Kelvin Williams, executive director of marketing for AngloGold. "A lot of the sentiment in the gold market has been driven by rumour mongering and speculation about actions that never happened. If there was more transparency we could point to them and say on what basis are you making these rumours?," Williams told Reuters on Wednesday. Transparency in derivatives and futures markets was one of many issues debated by the gold producers at the weekend meeting in London. The group, which included members and non-members of the World Gold Council, agreed that a committee headed by AngloGold chief executive Bobby Godsell would begin work in January on possible joint initiatives. The committee will include representatives from key producing regions such as Africa, Australia and North America. A report will be delivered to the group when it meets again in late February or March. Chris Thompson, the new chairman of South Africa's Gold Fields Ltd , said a key issue is improving the industry's understanding of the world gold market. The industry can reliably track its own output and to some extent jewellery and industrial use. But vastly more gold is traded worldwide and producers have little idea of who sells or buys it. "It (the meeting) was a sort of holding up of a mirror. It's obvious that there is so much that we don't know about the industry," Thompson said. Global bullion producers are nearing the end of a dismal year which saw prices slump to record lows amid central bank gold sales and even more damaging speculation over central bank intentions toward the precious metal. Bullion was trading around $296 an ounce on Wednesday with some analysts predicting a move above $300 an ounce in the first half of 1999 when financial turbulence and a weaker U.S. dollar should spur interest in gold. However, it is a far cry from the mid-1990s when producers enjoyed prices at around $400 an ounce. "The market has been very bearish toward gold despite the fact that gold in the physical market has performed better than any other commodity in the last 10 years," Williams said. He said the group agreed to broaden and strengthen existing initiatives to boost the health of the gold market, including expanding the role of the World Gold Council, an industry lobby group, and other agencies.