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

To: long-gone who wrote (34264)	5/20/1999 1:33:00 PM
From: John Hunt	Read Replies (3) \| Respond to of 116762

Check out Greenspan's Comment in the followup << Federal Reserve Chairman Alan Greenspan noted that the issue of U.S. gold sales had been debated in 1976 and the authorities had decided not to sell. ''The reason is that gold still represents the ultimate form of payment in the world,'' he said. ''Gold is always accepted ... and is perceived to be an element of stability in the currency and in the ultimate value of a currency.'' >> biz.yahoo.com VERY interesting development! :-)) John

To: long-gone who wrote (34264)	5/20/1999 2:06:00 PM
From: Alex	Read Replies (1) \| Respond to of 116762

Doubling in oil price tipped London: Oil prices will more than double by the end of 1999, says an influential new report. Investment bank Goldman Sachs' report dismisses oil production data from the International Energy Agency as over-optimistic and warns that Middle Eastern States are set to reassert their dominance in the market as Western companies cut output. Goldman suggests the Organisation of Petroleum Exporting Countries (OPEC) will be able to make its recent price rises stick, and says: "OPEC is intent on gaining a substantially higher percentage of the world's oil production." The report, compiled by Goldman in New York, puts the bank at loggerheads with both the IEA and the US State Department, whose official position is that sophisticated global oil trading makes a re-run of the 1973 and 1979 oil crises impossible. It may also cast a cloud over the IEA's 25th birthday party in Paris on Monday. The agency, set up after the 1973 oil shock to co-ordinate Western responses to energy shortages, has forecast non-OPEC oil output will rise this year by 100,000 barrels per day (bpd). This would weaken the impact of the tough cuts package agreed by OPEC's 11 members in March, which has helped pull the oil price back from below $US9 a barrel in January to more than $US15 mid-week. Goldman believes non-OPEC output will slide by up to 500,000 bpd in 1999, substantially lifting OPEC's share of the market. A move of 500,000 bpd either way can shift the price several dollars. World supply totals about 75 million bpd and a change of just 2.25 million bpd can nearly halve or double the price. "[An] environment where demand is growing and non-OPEC supply is declining will cause demand for ... [OPEC oil] to rise very sharply. We have now entered such an environment," it says. - The Guardian smh.com.au

To: long-gone who wrote (34264)	5/20/1999 3:08:00 PM
From: Gord Bolton	Respond to of 116762

Gold spike soothes JSE SARAH BULLEN and Reuters, Cape Town \| Thursday 4.45pm -------------------------------------------------------------------------------- A SLIGHT increase in the gold price to $274,70 in midday trade on Thursday picked up the local gold board and allowed it to recover some of its losses after bullion price slumping to a 20-year low on Wednesday. The gold index recouped some of Wednesday's sharp losses as Bank of France head Jean-Claude Trichet said on Wednesday that the United States, German, French and Italian central banks are opposed to the selling of gold reserves. At close of trade the all gold index had climbed some 2,93%. Gold's climb, plus some strong gains in the heavyweight Alsi40 index tipped the all share index on the upside, leaving it a fractional 0,06% up on the day. Taking a knock were the financial and industrial indices, which lost 0,96% and 0,38% respectively.