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

To: Johnny Gun who wrote (29405)	3/5/1999 12:17:00 PM
From: long-gone	Respond to of 116874

INTERVIEW-Election to boost Indonesian gold demand By Lewa Pardomuan JAKARTA, March 5 (Reuters) - Political and economic uncertainty ahead of Indonesia's general elections in June will boost domestic demand for gold, a gold expert said on Friday. Leo Hadi Loe, the World Gold Council's manager for Indonesia, said Indonesia was expected to produce 90 tonnes of gold in 1999, compared with last year's 80 tonnes. Jewellery exports would also increase to 30 tonnes in 1999 from 20 tonnes last year, he said. ''For the people, general elections mean uncertainty, possible riots. Nobody knows whether the economy is going to improve...but the market says it is going to be worse,'' he told Reuters in an interview. ''People are worried the rupiah is going to fall. Some talk about 9,000 to 10,000 (against the U.S. dollar). Prices of gold will rise ahead of the elections and sentiment will be positive,'' he said. (cont.) biz.yahoo.com