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

To: Alex who wrote (29403)	3/5/1999 12:12:00 PM
From: SwampDogg	Read Replies (1) \| Respond to of 116874

Does anybody know where I can find close to real time future quotes on gold/silver? Thanks

To: Alex who wrote (29403)	3/5/1999 7:47:00 PM
From: goldsnow	Respond to of 116874

South African gold shares come back into favour 08:29 a.m. Mar 05, 1999 Eastern By Nicole Mordant JOHANNESBURG, March 5 (Reuters) - South African gold shares extended a week-long rally on Friday as a range of factors, including an expected improvement in mine earnings next quarter, buoyed an embattled sector. The Johannesburg Stock Exchange's All-Gold index (.JGAI), which includes the world's two biggest bullion producers, rose by more than 2.5 percent to a high of 963.2 -- its highest level in more than six weeks. The index has gained nearly 14 percent over the past five days, ironically at a time when the bullion price has hardly moved at all. ''South African investors are looking at the depreciation in the rand. We expect earnings in the next quarter to be a bit better due to this depreciation,'' said Joachim Berlenbach, gold analyst at Standard Equities said. South African gold companies reap the benefits of a weaker rand because they sell their gold in dollars, but pay costs in the local currency. The rand has fallen by more than five percent since the start of the year, a decline which BOE Securities gold analyst Gerard Kemp said had not yet been reflected in the gold index. ''The index is on average 25 percent oversold...On a relative basis, we think it can outperform the (benchmark) All-Share index over the next few months as it is coming off a low base and there is a lot of uncertainty on industrial and financial stocks due to the high level of the Dow,'' Kemp told Reuters. South African gold shares have been under pressure for nearly three years as the bullion price tumbled more than $100 from above the $400 level, forcing the industry to undergo a radical restructuring to remain profitable. Analysts said company earnings, especially high tax payers like leading bullion producer Anglogold (ANGJ.J) and rival Gold Fields (GFLJ.J), would also benefit from a five percentage point cut in the corporate tax rate to 30 percent announced in South Africa's budget last month. A swathe of upbeat reports from a number of gold companies, notably JCI Gold (JCGJ.J), was also luring buyers. JCI Gold, which emerged from the ashes of mining house JCI Ltd last year, is expected to finalise its structure soon. International and domestic roadshows by other gold players, including Harmony Gold Co (HRMJ.J), Durban Roodepoort Deep (DURJ.J) and Gold Fields, had also whetted investor appetite for gold stocks, analysts said. Bullion was last bid at $288.10 an ounce on Friday. ((Johannesburg newsroom, +27-11-775-3131, fax: +27-11-775-3132, e-mail: newsroom+reuters.co.za)) Copyright 1999 Reuters Limited.