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To: IceShark who wrote (37920)	2/3/1999 8:29:00 AM
From: Glenn D. Rudolph	Respond to of 164684

Get Au s that have a leverage on market price to production cost. ISE, These are the few firms that have rich enough ore to turn a slight profit at $280/oz. Most firms need $295-$300/ounce to turn a profit. There was a time when gold was considered a save haven during world markets turmoil. Last summer did not show that trend. Gold quantities are pleantyful due to a lot of dumping last summer by Russia and Switzerland. There are complaint bu US future traders that the US Government is dumping gold when the $300/oz price is reached. That has been in The Wall Street Journal on numerous occasions. I cannot verify this one way or the other and our Government denies that. I do not see gold going above $310/oz at least until late this summer. Glenn