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

To: goldsnow who wrote (23448)	11/26/1998 1:07:00 PM
From: Ahda	Read Replies (1) \| Respond to of 116752

All Happy Thanksgiving this board shows care and giving and i thank you all.

To: goldsnow who wrote (23448)	11/26/1998 3:35:00 PM
From: Alex	Read Replies (1) \| Respond to of 116752

Gold forecast.............. "December Gold -- O 296.7 H 297.3 L 296.1 C 296.4 Chg. -.70 In a pitifully weak $1.20 range, it was business as usual in this range-bound market. In pre-holiday trade, rollovers into deferred months are taking place and this is probably weighing a bit on prices. Yesterday, European Finance Ministers approved a gold Euro collector coin to be issued simultaneously with the new currency in 2002. Is this news a bullish surprise to the market...probably not. It also now seems that, according to last weeks Commitments of Traders report, that large funds are now net long gold, a reversal from just a week or so ago. On the surface this may seem exceedingly bullish, but if the big players are already long, who is left to buy? In any case, we are in a technical market, and technical indicators are still heading higher. Bulls shouldn't hop on board and jump in with futures until this market proves its strength. A close over 305.5 would look promising for a run to 320-325. The longer-run chart pattern still looks good for a leg higher, as there is an inverted head and shoulders that began in May, which targets as high as 325. Choppy conditions persist and gold could still easily stab higher to the mid 320 area. However, I don't expect a raging bull market, and I would only buy futures on strength. Consider February calls if you wish to relax while looking for a $20-30 bounce. "

To: goldsnow who wrote (23448)	11/26/1998 11:08:00 PM
From: Richard Grenier	Read Replies (2) \| Respond to of 116752

Anglogold leads bid to polish gold's image Thursday November 26, 3:57 am Eastern Time PERTH, Nov 26 (Reuters) - A private meeting of some of the world's biggest gold mining houses has begun foundation work for a new industry body designed to polish up gold's tarnished image among investors, several Australian invitees to the meeting confirmed on Thursday. More than 20 executives from North American, African and Australian gold companies attended the all-day meeting on November 21 at London's Grosvenor House hotel. The meeting was headed by Bobby Godsell, chief executive of the world's biggest gold mining house, Anglogold Ltd . Others on the final attendance list, but not confirmed as attending, included heads of Barrick Gold Corp (Toronto:ABX.TO - news), Battle Mountain Gold Co (NYSE:BMG - news), Placer Dome Inc (Toronto:PD.TO - news), Ashanti Goldfields Co , Gold Fields Ltd , Normandy Mining Ltd and WMC Ltd , the sources said. Chris Thompson, the chairman of Gold Fields, on Wednesday said a key issue facing producers was improving the industry's understanding of the world gold market. An Australian mining executive who attended said it was ''the most powerful meeting of gold producers ever called.'' He declined to be named because of secrecy provisions covering the meeting. In an October 28 letter of invitation to the meeting seen by Reuters, Godsell said the objectives were: ''To identify and agree on those challenges and concerns which are shared by the industry as a whole ... To determine if producers are willing to act in concert.. To agree on the nature, direction and scope of that response.'' ''We recognise, of course, that any discussions among producers must be extremely sensitive to the anti-competitive laws and policies of the various countries in which we operate,'' Godsell said in the letter. ''I am proposing a chief executive officer-level body called the 'Gold Mining Industry Forum','' he said. Godsell said the new body would not replace the existing World Gold Council (WGC), which is funded by about 70 percent of the world's gold miners. However, another attendee said it was ''hard to see the new body doing anything but replace the WGC.'' He added that ''overall, the meeting was a pretty tame affair.'' 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 US$296 an ounce on Thursday, a far cry from the $400 level reached in the mid-1990s. Consumption of around 3,000 tonnes of gold a year outruns annual production of only around 2,000 tonnes, but surplus supplies estimated to be as much as 35,000 tonnes -- much of it held by banks -- continue to weigh on the price. Invitations to attend the London meeting were sent to more than 30 large gold mining houses, sources said. On November 17 a list of those who had accepted, and those who declined, was circulated. Godsell, in a second letter sent with the confirmed list of attendees said four points needed to be considered before the London meeting. Those points were ''what the meeting is all about, why chief executives need to be there, the relationship with the WGC and whether the meeting was a way for South African producers to regain control of the WGC.'' In answer to the final point he said: ''No, it is not.'' biz.yahoo.com

To: goldsnow who wrote (23448)	11/27/1998 5:38:00 AM
From: Alex	Read Replies (5) \| Respond to of 116752

11/27/98 - Pakistan Allows Gold Import to Boost Jewelry Export <Picture> ISLAMABAD (Nov. 27) XINHUA - The Pakistani government now allows the import of gold to boost export of gold jewelry, the Commerce Ministry said on Friday. According to a notification issued here by the ministry, in order to boost the export of gold jewelry from Pakistan, it has been decided to allow the import of gold by exporters of gems and jewelry with certain conditions. Under the conditions, all exporters of gems and jewelry will be eligible to be registered as importers on a deposit of 10,000 U.S. dollars. After being registered, they will be allowed to import up to 400 ounces of gold without payment of import duty and other surcharges or levies for the exclusive purposes of exports in the form of jewelry. Moreover, jewelry either studded or plain, will be exported within a period of 120 days from the date of import. Imports will be allowed only against firm export orders. Enditem =11270919 27/11/98 09:29 GMT