Seit die Aktienkurse fallen, flüchten Investoren in Silber

New York, 20. September (Bloomberg) - Silber kletterte am Terminmarkt um sechs Prozent und verzeichnete damit den höchsten Tagesgewinn seit zwei Jahren. Der Goldkontrakt erreichte an der New Yorker Comex ein 15-Monatshoch bei 292,30 Dollar. Angesichts der Turbulenzen an den Finanzmärkten sind die beiden Edelmetalle nun wieder stark gefragt. US-amerikanische Aktien mussten den dritten Tag in Folge Kursverluste hinnehmen, weil befürchtet wird, dass die Terroranschläge in der vergangenen Woche die Wirtschaft in eine Rezession schicken könnten. Dies hat Silber und Gold attraktiv gemacht."

"Die Leute kaufen Silber aus dem gleichen Grund wie Gold, nämlich weil es ihnen sicherer erscheint, einen Sachwert, anstelle eines Papierwerts zu besitzen," begründete Ross Beaty, Vorstandschef von Pan American Silver Corp., in Vancouver, die Entwicklung."Silber ist das Gold der Armen." Der Silberkontrakt zur Dezemberlieferung stieg an der Comex der New York Mercantile Exchange (Nymex) um 6,1 Prozent auf 4,745 Dollar die Unze. Das ist nicht nur der höchste Tagesgewinn seit September 1999 sondern auch der höchste Schlusskurs seit dem 2. Februar.

Der Terminhandel der Nymex war nach den Terroranschlägen in den USA am 11. September eingestellt worden. Seitdem der Handel in einer verkürzten elektronischen Handelssitzung am Freitag vergangener Woche wieder aufgenommen wurde, sind die Silberkontrakte täglich gestiegen. Seit dem 10. September haben sie 13 Prozent an Wert gewonnen. Die Rallye am Mittwoch wurde dadurch beschleunigt, dass Silber über 4,51 Dollar, der gleitende Durchschnitt über 200 Tage, stieg und dies zu Kaufaufträgen führte, die im voraus vereinbart wurden, erklärte Billy Flahive, Partner und Händler bei Island Trading Group in New York.

Der Goldkontrakt für Lieferung im Dezember stieg am Mittwoch an der Comex um 0,9 Prozent auf 292,30 Dollar die Unze. Dies entspricht dem Wert vom Freitag, als der höchste Preis seit dem 14. Juni 2000 festgestellt wurde. Seit den Anschlägen in den USA ist der Goldpreis um 6,8 Prozent gestiegen.

Auch die Aktien von Gold- und Silberproduzenten zogen an. Der Standard & Poor's Gold Index stieg am Mittwoch um 1,1 Prozent auf 127,80 Punkte. Es handelte sich dabei um die einzige von insgesamt 15 Branchengruppen des Index, die an diesem Tag einen Gewinn verzeichnete. Der S&P Index der sich aus 87 Unternehmensgruppen zusammensetzt, sank um 16,66 Punkte auf 1016,08 Punkte.

Die stärkere Goldnachfrage spiegelt sich auch in den Absatzzahlen der amerikanische Münzprägeanstalt für die American Eagle-Goldmünzen wider. In diesem Monat wurden bereits 28.500 American Eagle im Wert von je einer Unze Gold verkauft. Im August wurden zum Vergleich insgesamt nur 6500 Unzen verkauft, berichtete eine Sprecherin der Münzprägeanstalt am Dienstag.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Und für Silber Eagles haben sie nun kein Silber mehr...

Gruss

tofir


<center>

<HR>

</center>

By David Bogoslaw
Dow Jones Newswires
September 21, 2001

NEW YORK -- While the price of gold has disappointed
some traders by not rising further on the financial and
political uncertainty arising from last week's terrorist
attacks, physical demand for bullion coins has
skyrocketed in recent days.

"Retail demand is through the roof," Frank McGhee, a
dealer at Alliance Financial LLC in Chicago, said.

"I want them, I want them in my possession, I want to
bury them in the backyard," is the overriding sentiment
by small investors who, for the most part have, haven't
shown much interest in the coin market in recent years,
he explained.

While bullion coins have a face value, such as $50 for
the American Gold Eagle, they are priced according
to the market value of the metal they contain. The Gold
Eagle contains 1 troy ounce of gold.

Michael Alster, marketing director for coin dealer
Eastern Numismatis, Inc. in Garden City, N.Y., estimated
demand for bullion coins has risen by 30 percent over
normal levels during the past week, with nine out of 10
calls being for Gold Eagles.

"People are walking in and buying them right off of the
counter," he said.

Mike Tordella, president of Manfra Tordella and
Brooke (MTB Inc.), a New York-based wholesaler and
retailer of precious metal coins and bars, averred that
volume had increased at least fivefold since the attacks.
He saw gold fulfilling its role as a safe haven in times
of crisis.

"We're getting calls from financial planners who are
looking for a half million or even a million dollars' worth
of gold for their clients," Tordella said."That represents
a rather small portion of an individual portfolio, but it's a
lot more than what people had been considering
previously."

Many investment managers agree that by holding
between 5 and 10 percent of their portfolios in the form of
precious metals, individual investors can reduce the
overall risk in their portfolios. But until recently the
monetary returns on holding gold, silver and platinum
have been small compared with returns realized from
equity investments, which limited demand.

While coin demand vaulted higher last week, now
that equity markers have lost more than 13 percent of
their value this week, people have begun to pull back,
reluctant to buy much of anything, noted Mike Fuljenz,
president of Universal Coin and Bullion in Beaumont,
Texas.

"This is what happens historically. Going back to Black
Monday (on the New York Stock Exchange in October
1987), whenever you have crisis, you see an initial surge,
then a little pullback, because people get a little worried
because they may have lost 15 to 20 percent of their net
worth in the stock market," he explained.

As the equity markets find their footing and stabilize in
the months ahead, more investors will flock to coins,
however, he predicted.

"Three to six months after the events occur, we go into
major bull demand," he said, citing historical precedents
such as the aftermath of President Nixon's resignation in
1974 and the Iran hostage crisis in 1980."People
become more willing to diversify."

When they do, he added, taking only a little bit out of
equities investments gives a large boost to the value of
precious metals.

The surge in bullion coin demand may result in a shortage
for a while, as the U.S. Mint was caught unprepared for the
run on coins, having been maintaining a minimal inventory
over the last year due to lack of demand, according to
McGhee at Alliance Financial.

The Mint has had problems getting enough planchets, or
striking blanks, for the minting of the bullion coins, Alster
at Eastern Numismatics, agreed.

No comment was available from the Mint.

MTB's Tordella didn't see the Mint's low supply as a
lasting problem, however.

"The Mint can keep minting as much as demand
requires. It can crank up production very quickly," he
said.

Nor was he concerned, he said, with the expanded
supply of gold bullion in private investors' hands that
could easily flow back into the market and force prices
down once the financial and political threats had abated.

"Traditionally, gold has been a one-way metal," he said.
"People buy it and hold it for a very long time. I don't
often sell people half a million dollars' (worth of gold) for
their portfolio and have them sell it back in six months'
time."

Alliance's McGhee cited an increase in the premium of
coins to the underlying spot gold price from $5 an ounce
before the attacks to $10.50 to $15 an ounce afterwards.
But Tordella at MTB hadn't seen premiums rise that much.

"The market tends to spread itself a lot between bids
and offers," he explained."Dealers are working over the
phone rather than working off a stable pricing system.
We've been having trouble getting (price updates)
because communication lines have been damaged.

Gruss

tofir


<center>

<HR>

</center>