Platinum to test $750/oz then $775/oz
10/29/2003

BUSINESS DAY - Spot platinum is set to test a fresh 23-year high of US$750 an ounce and follow that up with a test of $775/oz, investment bank JP Morgan said today. Earlier on Tuesday platinum touched a fresh 23-year high of $748.50, the highest level since February 1980...
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Platinum jewellery emerges as new favourite among young Indians
10/24/2003

Channel NewsAsia - Platinum is slowly but surely gaining ground in India, where gold, used for auspicious purposes, has traditionally been popular. Gold has long been a favourite among many Indians, especially during the wedding season, usually in the last quarter of the year. And the World Gold Council says the demand for gold has been ...
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Speculative buyers push platinum to fresh high
10/22/2003

FINANCIAL TIMES - Platinum prices broke another 23-year high on Tuesday. Speculators bought the metal in anticipation of Anglo Platinum, the world's largest producer, cutting its planned mine expansion by a larger-than-expected amount because of the strong South African rand...
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Norilsk Nickel to put $1bn into gold mining
10/17/2003

RosBusinessConsulting - Over the next five years, the Russian mining and smelting company Norilsk Nickel is going to invest about $1bn in the development of gold mines of the Irkutsk region of Russia. In particular, the company will seek to unite the Lenzoloto and the Sukhoy Log deposits over.
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Money used to be backed by gold. Now it is backed by the promises of central bankers. Are these worth less than they were?
10/16/2003

THE ECONOMIST - ... All currencies are backed by something. When the world was on the gold standard, that something was the yellow metal: the value of each pound sterling, dollar or French franc was determined by the (fixed) amount of gold ...
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German central bank to sell 400-600 tonnes of gold
10/13/2003

AFP - The German central bank wants to sell 400 to 600 tonnes of gold between 2004 and 2009 to raise up to four billion euros for financial market investments, the newspaper Boersen Zeitung said Tuesday. The Bundesbank, which agreed in a 1999 international accord not to touch its gold reserves until 2004, wants to manage the proceeds without having to refer to the government...
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CHINA - Gold: new focus of investment
10/13/2003

EASTDAY - More domestic investors are interested in tapping into the gold market, with more than 20 percent of stock investors willing to transfer part of their funds to the gold market, according to a questionnaire of investors in ten Chinese cities, sina.com.cn reported yesterday. Gold has boasted a high profile in China, with over 70 percent of respondents favoring gold ...
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Dollar declines further amid fears on deficit
10/07/2003

The dollar faced renewed downward pressure on Tuesday, falling to fresh three-year lows against the yen and within sight of record lows against the euro, amid mounting concern over the scale of the US current account deficit. Economists believe stronger US growth will not prevent the slide in the dollar, since it would lead to a further widening of the current account deficit, expected to reach $570bn this year.
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London platinum fixes at fresh 23-year high
10/03/2003

REUTERS - London platinum was fixed at a fresh 23-year high of $718.00 an ounce from the previous fixing at $711.00 with considerable buying interest at the fixing. It was the highest fixing since March, 1980. Spot platinum also scored a fresh 23-year high on the back of the fixing at $717.00/722.00...
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North Korea Spurns Talks, Rattles Nuclear Sabre
09/30/2003

North Korea said on Tuesday it was not interested in further talks about its nuclear program and was beefing up its nuclear deterrent force to repel a possible pre-emptive attack by the United States.
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Turkey Aims to Lead the World in Gold Jewelry Exports
10/29/2003

ZAMAN - Importing gold as raw material and exporting it as jewelry, Turkey is a step closer to becoming the world leader in the field. Regarded as the second largest exporter of gold jewelry Turkey is predicted to break a record in gold imports and exports this year...
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Impala workers to march against wage offer
10/24/2003

NETASSETS - The Impala mining workers have decided to embark on marches and demonstrations at all the company's operations against its wage offer for 2004, the National Union of Mineworkers said on Thursday. Spokesman Archie Palane said workers would demonstrate and march during their lunch hour ...
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U.S. Deficit Hits $374.2B, Setting Record
10/21/2003

(AP) - The federal deficit soared to $374.2 billion in 2003, the White House said Monday, a record total that more than doubled last year's red ink and looked like a prelude to even gloomier numbers. Because the shortfall marked an improvement from a $455 billion projection the White House made in July, Bush administration officials cited it as evidence that their attempts to fortify the weak economy were working. "Today's budget numbers reinforce the indications we have seen for some months now: that the economy is well on the path to recovery," Treasury Secretary John Snow said.
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Central banks expected to increase gold sales
10/17/2003

MININGNEWS.NET - ... David Holmes, head of metal sales and marketing at NM Rothschild, told a metals conference in London the market could absorb an extra 100 tonnes a year from central banks after their current standstill agreement. known as the Washington Accord, was renewed.
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Gold Supply & Demand Report Q2 2003
10/15/2003

Gold Fields Mineral Services Ltd (GFMS) is one of the world's foremost precious metals consultancies, specialising in research into the global gold, silver, platinum and palladium markets. GFMS is based in London, UK, but has representation in Australia, India and Russia, and a vast range of contacts and associates across the world.
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Gold to rise into 2004/05-Citigroup
10/13/2003

NEW YORK, Oct 10 (Reuters) - U.S. economic recovery, growing metals demand in Asia and tight commodity markets, coupled with a weak U.S. dollar should fuel gains in metals prices over the next two years, a leading investment bank said in a report on Friday.
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SOUTH AFRICA - Crisis threatens 70 000 mine jobs
10/10/2003

BUSINESS REPORT - The mining industry might lay off as many as 70 000 mine workers and halt up to R100 billion worth of capital investment as it struggled to avoid being pushed over the cliff edge by the stronger rand and the higher cost of production, the Chamber of Mines warned yesterday. "At the current rand price of gold, seven of South Africa's 12 gold mines are lossmakers...
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With Gold Gaining Ground, Many Wonder Whether to Invest
10/06/2003

NEW YORK TIMES - Gold, the ultimate old-economy asset, is close to its highest price since 1996 and is capturing broader interest than it has for most of the last 20 years. That leaves two major questions for anyone thinking of investing in gold: how to do it, and whether to do it at all after the recent run...
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Dubai aims for half the world’s gold
10/01/2003

TERRANET - Dubai is aiming to converge 50 percent of the world’s precious metals and stones production and trade at the Dubai Metals and Commodities Center, according to DMCC chairman Tawfic Abdullah. “The Middle East, with a 26.5 percent market share, is the biggest consumer of gold ...
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NY Precious Metals Review: Gold Ends Up But Off Highs
09/30/2003

OSTERDOWJONES - Comex Dec gold futures settled $2.90 higher at $386.10 per ounce Tuesday after renewed weakness in the U.S. dollar relative to other currencies sustained speculative and investor interest in gold. The U.S. currency sank to three-month lows against the euro ...
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