Gold 210 pro Unze?

verfasst von R.Deutsch, 10.01.2001, 22:00

January 9 -DJ 2001 Gold Seen Hitting 23-Year Low Of $210/Oz - Mitsui

LONDON (Dow Jones)--Pressured by thinning trade and the prospect of a rise in producer hedging
and official sector sales, the price of gold will fall sharply this year, said a report by trade house
Mitsui (MITSY).

In his precious metals forecast for this year, analyst Andy Smith said the outlook for gold is bleak,
with a low of $210 a troy ounce possible. Even a weakening dollar and the threat of a looming global
economic slowdown won't be enough to prevent gold from dropping below the 20-year lows of around
$252/oz plumbed in 1999.

Gold last traded as low as $210/oz at the end of 1978.

In a gloomy outline of the market's prospects this year, Smith said mining companies and central
banks - the largest holders of underground and aboveground gold reserves, respectively - will be
tempted to start selling ahead of further weakness.

For miners, this means selling production forward, a likely consequence of industry consolidation as
hedging reduces the overall costs of acquisition, Smith said. For the official sector, it will mean
selling gold, then investing the receipts in more attractive financial assets.

With the proliferation of asset classes in recent years, gold is losing its allure. Even traditional gold
buyers such as Indian consumers will start looking to invest elsewhere, such as bank deposits,
Smith said.

Demand looks weak, and gold is unlikely to be seen as a store of value in a global economic
slowdown, he said. END.

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gesamter Thread:

• Gold 210 pro Unze? - R.Deutsch, 10.01.2001, 22:00
  • Re: Gold 210 pro Unze? - BossCube, 10.01.2001, 23:02
    • Re: Gold 210 pro Unze? - Was ist eigentlich mit Gold in Euro? - Diogenes, 11.01.2001, 09:10
      • Re: Gold 210 pro Unze? - Was ist eigentlich mit Gold in Euro? - BossCube, 11.01.2001, 14:42