COMMODITY REVIEW AND OUTLOOK
195 Route 6A, Suite 6, Orleans, Massachusetts
800-634-3194(March 15, 2000) METALS: GOLD--Gold remains in suspended animation. Physical interest, mainly from India and the Middle East, is said to be just under the market. Right now it is waiting out the auctions. The Bank of England plans to sell twenty-five tonnes of gold on March 21. The Bank of England also announced a new round of gold sales, 150 tonnes, starting in May, in six installments. The Dutch are not planning to hold any further gold sales until September at the earliest. But it's still not safe to get back in the water. The Swiss plan to sell 13,000 tonnes, possibly as early as April. The chart pattern appears a bit negative to me.
COPPER--More fund buying in copper, with a chart that is becoming more attractive. There is talk that China has been in the market for copper, and traders are optimistic over future purchases. Many traders see Asian demand as the key to solidly higher prices, and are beginning to look at copper supplies as tightening through the year relative to demand.
M. Steven Morgan
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