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

To: teevee who wrote (34367)	5/22/1999 7:54:00 PM
From: Zardoz	Read Replies (1) \| Respond to of 116764

If you believe the $200 range is the low, then why go long, it could take 3-20 years before it'll start to climb again? If you are hoping for a dramtic washout like Aug when it hits $200 then you'd be mistaken. As the funds will be adding to their positions at that level as well. So an XAU of less then 45 may be VERY hard to get. But still there would be no reason to expect a rise in gold, because what is causing gold to go down NOW will still be there in the future.

To: teevee who wrote (34367)	5/22/1999 7:58:00 PM
From: baystock	Read Replies (3) \| Respond to of 116764

Not all of Wall Street is bearish on Gold: <<Our view has been that it is increased central bank gold lending, rather than outright gold sales, that have kept the gold price mired below $300 per ounce. There is increasing evidence that total central bank gold loans outstanding may exceed 10,000 mt - more than twice the amount recently estimated by Gold Fields Minerals Services Ltd. in its latest gold update. (This equates to almost one-third of all central bank gold holdings.) While not much comfort in the near term to those of us who have maintained a positive outlook toward the metal, such levels of lending raise the likelihood that when the price of gold eventually climbs out of the cellar, the ensuing rally may be much more dramatic than our published price estimates suggest. The high-risk derivatives-based hedging strategies in place by many gold producers only add to the upside potential. To date, the recent rotation of investor interest into cyclical names has buoyed the gold shares but not the gold price. Typically, gold prices change direction ahead of other metals, but that obviously has not been the case in the current rotation. >> talk.techstocks.com./~wsapi/investor/reply-9681463