Do presently depressed commodity prices present opportunity in precious metals?
*Financial Times, by Chris Flood, October 11, 2006:
"The weakness in oil prices kept gold and other precious metals
under pressure. Gold traded at $572.80 a troy ounce from New York’s
late quote of $573.70 a troy ounce.
A gold exchange traded fund was launched on the Singapore Stock
Exchange on Wednesday by streetTRACKS, enabling Asian investors trade
an interest in bullion without the problems associated with arranging
physical delivery of the metals.
Gold could surpass its record $850 level, driven higher by structural
weakness in the dollar and rising jewellery demand in China and India,
according to Baker Steel Capital Managers which controls $600m in
commodity assets.
“The fundamentals supporting gold haven’t changed and the bull run will
continue for the next five years,’’ said Trevor Steel of Baker Steel.
“Even if a mine is discovered, it may take five to seven years for
production to begin.” "
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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