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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Gord Bolton who wrote (1760)	2/24/1999 8:04:00 AM
From: lorne	Read Replies (2) \| Respond to of 8010

New York--Feb 23--Silver held in London and Zurich bank vaults totaled around 50 million ounces at the end of 1998, estimated Jeffrey Christian, managing director of the New York-based research firm CPM Group. London and Zurich vaults held around 150 million ounces in 1995, falling to 100 million ounces by 1997. By the middle of 1998, it fell to 75 million and declined to 50 million by the end of the year, Christian said. By Melanie Lovatt, Bridge News, Story .19483 New York--Feb 23--The CPM Group said today in its silver survey that Indian silver fabrication demand in 1999 is likely to stabilize at 1998 levels or may even edge slowly higher if industrial production there holds up. In 1998, Indian silver demand fell 9.2% to 116.8 million ounces from the 128.6 million ounces seen in 1997. By Melanie Lovatt, Bridge News, Story .19768 New York--Feb 23--The London Metal Exchange is considering opening new warehouses for delivery of silver with locations including Dubai, London, Zurich and New York, Ken Davies, director of the LME and director of Triland Metals Ltd., told Bridge News today. He said that in addition to opening new warehouses for silver, the LME would probably also use some existing warehouses. By Melanie Lovatt, Bridge News, Story .22408 New York--Feb 23--Mexico's Luismin, which produced 83,160 ounces of gold in 1998 and 5.4 million ounces of silver, has hedged about 80,000 ounces of gold this year, with $400 as the floor and $419 as the ceiling. The company has hedged all of its 1999 silver production at $5.55 per ounce, said mining division president Eduardo Luna. By Cristine Denver, Bridge News, Story .20913 crbindex.com