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

To: goldsnow who wrote (34305)	5/20/1999 10:28:00 PM
From: Broken_Clock	Respond to of 116764

One of the aces that Rubin holds is oil. Low oil = continuing bubble economy in the USA. Rubin gives Yelsin a few more billion and russia stabs OPEC one more time. Power politics. Saudi's weren't too nice to the USA lately so we're teaching them a little lesson.

To: goldsnow who wrote (34305)	5/20/1999 10:30:00 PM
From: Probart	Respond to of 116764

From the South African press.,..... BUSINESS DAY Analysts forecast a grim period for the South African gold mining industry after the gold price hit a 20-year low and the prospect of further central bank sales continued to weigh heavily on the market. The slumping gold price has claimed its first victim -- Randfontein Estates' Doornkop South Reef project, which was due to start up in 2001 and be in full production by 2003, has been suspended. BUSINESS REPORT Randfontein Estates(RFNJ.J), a gold mine in the JCI Gold stable, has pulled the plug on its 800 million rand Doornkop South Reef expansion project, saying it would not provde an adequate return at ruling gold prices. The $2.55 fall in the gold price to $272.50 threatened to bring about another round of production cuts and retrenchment in the industry as more than half of the world's gold producers were now operating at a loss. SAKE BEELD The already struggling South African gold industry has come under renewed pressure after the gold price fell to its lowest level in 20 years.