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Mix-Ansicht- Reminder: A Golden Moment (& Japan) - Pancho, 28.03.2002, 01:42
- Großes Kaufsignal für japanische Bankaktien. - El Sheik, 28.03.2002, 10:22
Reminder: A Golden Moment (& Japan)
Webfin.com - A gold rush in Japan pushed bullion prices above US$300 an ounce for the first time in more than a month as investors hunted for a stable place to invest.
Analysts believe the steady demand for gold has been driven by an announcement that bank term-deposits will only be protected by the government up to 10 million yen (US$76,000).
As well, investor concerns over Japanese bank reporting market-to-market values for the their investment holdings, beginning April 1.
George Topping a gold analyst with Sprott Securities Inc., says,"The Japanese financial system is looking increasingly shaky. Japanese investors are hedging their bets by getting into gold."
Maison Placements Canada's CEO and president John Ing agrees,"With protection against currency depreciation and stock market drops, yen based gold has been the best protector for Japanese investors."
In the first two months of 2002, gold imports into Japan reached 27.6 tons compared with 5 tons in the same time frame last year.
With these kinds of numbers, the surge is expected to continue. Dundee Securities technical analyst Roman Franko monitors long-term moving averages."We're going towards $310 to $311. The questions remains can we overcome resistance at that level."
Gold topped US$303.30 an ounce on June forward contracts Wednesday, after reaching a high of US$304.30
For gold investors, these prices are a long time coming. The gold sector collapsed in the late 1990s because of prices that hit as low as the US$260 range. That led to the closure of many mines and gold projects world-wide and has influenced the ongoing consolidation in the gold sector.
It has only been in the past year that prices have approached the $300 range.
RBC Capital Markets analyst Stephen Walker is optimistic. In his research note he says,"Using a $325 gold price, we estimate that North American gold producer shares would have, on average, an additional 29 per cent upside, within a range of 17 per cent to 47 per cent."
Topping says,"For next year, my average gold price is $325 per ounce. But I'm expecting tremendous volatility around that number with spikes going much higher up to the $350 to $375 per ounce range."
Brian Christie covers the gold and precious minerals sector for Canaccord Capital Corporation."I think there is lots of momentum left in gold stocks. If you look at the number of financing deals that are being done," he says.
Using a"basket approach", Christie advises investors to pick a mixture of junior, intermediate and senior companies.
Ing favours the junior to mid-cap gold companies."The senior companies seem to have declining production profiles. In rising gold prices it's the companies with more leverage that are beneficiaries."
Specifically, Christie likes Agnico-Eagle (AGE), Goldcorp (G), Eldorado (ELD) and Kinross (K).
As"one of the few sectors that's going outperform this year and next", Topping is focused on Goldcorp, Meridian (MDG), Glamis (GLG), Cambior (CBJ) and Eldorado.
Topping adds,"It's unpredictable when gold is going to surge higher. Investors should get in now because you can't time when you will get the next piece of news that will send gold higher."
As a result of the rise in gold prices, the precious metals group rose 4.9 per cent on the Toronto Stock Exchange (TSE 300).
Quelle: Webfin.com
Und die Japaner haben ihren geliebten Nikkei Index immer noch nicht auf den gewünschten 12400. Und kaum hab ichs geschrieben, steht das Gold bereits bei 303.10.
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