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

To: sea_urchin who wrote (32146)	4/19/1999 2:33:00 PM
From: Zardoz	Read Replies (1) \| Respond to of 116762

Guru Searle: you high limit? Bill'z boys busy today at the lodge..

To: sea_urchin who wrote (32146)	4/19/1999 2:46:00 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 116762

Remember, gold stocks are late market cyclicals. See any other late market cyclicals on the move lately? Hint...Autos, oils..... Usually the XAU leads but this time it's being dragged. Jim

To: sea_urchin who wrote (32146)	4/20/1999 7:10:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116762

IMF: Global Economy Will Rebound Tuesday, 20 April 1999 W A S H I N G T O N (AP) THE GLOBAL economy, badly shaken by a 20-month-old currency crisis that has pushed one-third of the world into recession, should stabilize this year and enjoy a solid rebound by 2000, the International Monetary Fund predicted Tuesday. For the first time since the financial crisis hit in July 1997, the IMF said it was able to revise its previous outlook upward a bit instead of being forced to admit it had been too optimistic. For 1999, the IMF's "World Economic Outlook" projected global growth of 2.3 percent. While that would be lower than last year's 2.5 percent, it represented a slight 0.1 percent increase from the last IMF forecast issued in December. For 2000, the IMF was even more optimistic, predicting a solid recovery, with world output increasing by 3.4 percent. The IMF's 1999 outlook was bolstered by a sizable upward revision in expectations for the United States. In December, the outlook predicted U.S. growth would slow to 1.8 percent. But it now believes the U.S. economy will grow 3.3 percent this year, slowing to 2.2 percent in 2000. That was offset somewhat by worse-than-expected performance in Japan and Latin America, which became the latest victim of the global currency crisis in January when Brazil was forced to devalue its currency. But Michael Mussa, the IMF's chief economist, said the agency was fairly confident that the currency crisis was bottoming out and the foundation laid for a solid recovery next year. For that recovery to be fully realized, the IMF said, the United States must achieve a "soft landing" with growth slowing to a more sustainable pace to keep inflation pressures at bay. Japan, the second-largest economy, will have to finally exhibit signs of emerging from its worst recession in a half-century, and Europe must find a way to bolster growth, which in recent months has been slipping. The 182-nation IMF released its new assessment of the global economy in advance of the lending institution's spring meeting at which time finance ministers are expected to resume efforts to put in place a new global financial architecture to make the world less vulnerable to Asian-style currency crises. IMF forecasters saw little concern that the NATO bombing campaign in Yugoslavia will trigger serious economic turmoil beyond neighboring countries in the region. Japan's economy was projected to shrink again this year, with output falling 1.4 percent - double last year's plunge. The IMF said, however, there are hopeful signs Japan is finally emerging from its decade-long period of weakness. It predicted an end to the Japanese recession and slight growth of 0.3 percent in 2000. The IMF was even more optimistic about other Asian countries, where plunging currencies and stock markets in 1997 marked the start of the financial turmoil that spread to Russia and Latin America. "Activity has recently turned around in Korea and seems to have bottomed out in Malaysia and Thailand," the IMF said. "Investor sentiment toward many emerging market economies has rallied." This represented a much more positive view than just six months ago. After Russia defaulted on billions of dollars in debt, financial markets around the world were thrown into a tailspin. The Federal Reserve responded with a series of U.S. interest rate cuts that restored confidence and sent U.S. markets headed to new highs.