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DJ PRECIOUS METALS UPDATE: S Africa Gold Output Drop To Slow(Comtex Business Via Thomson Dialog NewsEdge)JOHANNESBURG, Apr 13, 2006 (Dow Jones Commodities News via Comtex) --TOP STORIES: INTERVIEW: S Africa Gold Output Decline To Slow, Stabilize South Africa's gold production, which plummeted to 296 metric tons in 2005 from 673 tons in 1980, should slow its rate of decline or even stabilize this year if bullion's bull run continues, a leading mining economist said. UPDATE:Investor Demand May Drive Gold To Record High-GFMS LONDON (Dow Jones)--Healthy levels of investment demand for gold will ensure the metal's current bull-run continues, possibly propelling prices beyond the 1980 high of $850 a troy ounce in coming years, consultancy group GFMS said in its annual Gold Survey 2006 Wednesday. LONDON (Dow Jones)--Anglo Asian Mining PLC, a gold and copper development company with projects in Azerbaijan confirms that, Gordon Lewis has agreed terms with Anglo Asian to take up the position of Chief Executive on July 1, 2006. Base, Precious Metals Slip In Asia On Profit Taking SINGAPORE (Dow Jones)--Base and precious metals moved lower in Asian trade Thursday as investors took profit following record-breaking gains in previous days, in anticipation of more selling later ahead of the long weekend in the U.K. and U.S. STORIES OF INTEREST: INVESTMENT LETTERS: Gold Doesn't Rattle Geezers I've noted repeatedly that the gold geezers, longtime gold bugs who were publishing at the time of the last great gold blow-off more than 25 years ago, have responded to the yellow metal's second coming warmly but not wildly - at least not yet. Queenstake Sells 28.5M Shrs To Newmont; Backs Output View Newmont Mining Corp. (NEM, NMC.T) completed the purchase of 28.5 million common shares of Queenstake Resources Ltd. (QEE, QRL.T) for gross proceeds of $10 million. China Ctrl BK Gold Additions Unlikely In Short Term -GFMS LONDON (Dow Jones)--China's central bank is very unlikely to add more gold to its reserves in the short-term but in the medium- to long-term there is "excellent scope" for gold purchases by the People's Bank of China, metals consultancy GFMS said Wednesday. Investor Demand May Drive Spot Gold To All-Time High -GFMS LONDON (Dow Jones)--Spot gold prices could rise to an all-time high as the number of investors in gold is set to increase significantly over the next two years, metals consultancy GFMS said in its Gold Survey 2006 Wednesday. Strong Commodity Prices To Continue To Bolster UK Stocks LONDON (Dow Jones)--The U.K. stock market's current strength has been built around a chassis of burgeoning commodity prices and the ride isn't over yet, say analysts FOCUS: Funds Fuel Commodities Price Boom; Miners Benefit LONDON (Dow Jones)--Fund and speculator buying drove copper and gold prices on the London Metal Exchange through key psychological levels Tuesday, taking mining stocks up too, and there's more on the way, say sector specialists. Freeport McMoRan Up 3%; Merrill Sees Higher Gold Prices NEW YORK (Dow Jones)--Shares of Freeport McMoRan Copper & Gold Inc. (FCX) were up 3% Tuesday as Merrill Lynch upgraded the company to buy from neutral, citing higher copper and gold prices. Gold Expected To Continually Test $600/Oz In 06 -CitiGroup NEW YORK (Dow Jones)--Comex gold is expected to continually test the $600 an ounce level this year, but is likely to average about $553 an ounce in 2006, said analysts at Citigroup Investment Research. CBOT Silver, Overall Metals Volume Hit Daily Record Tue The Chicago Board of Trade's precious-metals complex set a record Tuesday when daily volume climbed to 42,983 contracts, the exchange reported. MARKETS: NY Precious Metals Review: Gold Dn But Off Session Lows NEW YORK (Dow Jones)--Comex gold put on an impressive show Thursday at the New York Mercantile Exchange ahead of a long holiday weekend where the yellow metal maintained the $600 an ounce level despite closing lower on the day. -By Alison Guerriere Ciaccio; Dow Jones Newswires; 201-938-5959; [email protected] (END) Dow Jones Newswires 04-13-06 1508ET |