Blair suffers rebuke over lobbying

**sunnysan** · 3 February 2006, 11:35

Alas

Nice one,

The same kind of thing is happening in the Ukraine with Regal petroleum and although I am a bit sketchy on the details , it appears to effectivly has taken away licences and drilling rights granted under the previous government based on "procedural" irregularities.

As it seems to be the case in most of EE, standards and laws are selectively applied to the advantage of the party with the biggest stick.

**AlfredJPruffock** · 3 February 2006, 11:48

Interesting observation SuS.

On the topic of gold, I have ben pondering whether to include this glorious commodity in my Portfolio, to balance my perhaps over addiction to Oil , which Ive made quite a few bob on inthe recent past .

Anyway I was interested by this snippet, so anybody who may have invested in Gold, or any other previous metals, I would be interested to hear their comments...

Gold's 37 percent rise in six months to 25-year highs, far from a price-bubble ready to pop, will continue upwards on renewed fund enthusiasm, analysts said.

The bull market may attract even more new money in the coming years, with potential for bigger price spikes, they said.

"Like a gorilla with a gun, gold can go anywhere it wants," said Peter Hillyard, head of metals sales, ANZ Investment Bank.

"With the quest for yield, the need for portfolio diversification and the huge appetite funds have for risk, all commodities are certain to rock for a lot longer. It's not a bubble about to burst."

Gold prices peaked at $573.30 a troy ounce on Thursday, gaining 11 percent this year on top of an 18 percent rise in 2005. The metal has more than doubled in five years.

But analysts say gold has room to go much higher. It is still well off January 1980's all-time high of $850, a level which would now stand at $2,100 after adjusting for inflation.

Many analysts have frequently revised price forecasts, such has been the speed and strength of the upmove.

UBS Investment Bank this week lifted its average price forecast to $560 an ounce for 2006 and $600 for 2007 from $520 and $500 respectively. Gold could trade to a high of $675 at some point next year, it said.

A Reuters poll showed last month an average gold price of $525 in 2006, up 18 percent from $445.05 last year. The metal was seen gaining further to an average $550 in 2007.

"I do not see any bubble on the gold market. Prices have been firmly supported by fundamentals. Most notably, changes in global liquidity have put upward pressure on prices," said Michael Widmer, analyst at Macquarie Bank Ltd.

**sunnysan** · 3 February 2006, 12:17

The point

Thats not really the point I am trying to make.

I am not financially literate enough to comment on whether buying gold now is a good idea or not,but buying gold and investing in "natural resources prospect" are two very different things

IMHO, the former concerns the underlying global value of the natural resource and the latter comprises of many more things.

The latter is affected by regional factors such as security and economic stability as well as the global value of the resource. Eg There may be loads of copper in Katanga but if the miners are losing legs treading on landmines and processing plants are being blown up by militia I fail to see how the prospect would be a good investment.

Closer to topic, investing in the CIS is a high risk game owing to no adherence to corporate and legal standards and the fundemental mentality that any beurocracy and administrations purpose is not compliance but for manipulation to achieve the protagonists agenda.

In a nutshell, in most of these places the governments can do what they like and based on what I have read and what I have seen, I would be very wary of any Western concern promoting natural resources prospects in former CIS becuase I dont believe that on the whole they can control the political and financial interests of the host government or their proxies(In this case Georgian "gangstahs")

**wendigo100** · 3 February 2006, 12:41

I thought Tony Blair was leader of the world and all-round good guy?

**EternalOptimist** · 3 February 2006, 12:59

don't urinate there Lizard old chap, I hate to dance in puddles of pee

**Dundeegeorge** · 3 February 2006, 13:17

Oxus Gold?

That's not a very Indian sounding company name, surely?
Is it a front?

**AlfredJPruffock** · 3 February 2006, 14:18

Originally posted by wendigo100

I thought Tony Blair was leader of the world and all-round good guy?

Maybe but there is Gold in them Gulags, at which point all moral considerations take a distinct back place.

Head them off at the pass Tony ....

**Dundeegeorge** · 3 February 2006, 14:37

Moral considerations

Originally posted by AlfredJPruffock

Maybe but there is Gold in them Gulags, at which point all moral considerations take a distinct back place.

Head them off at the pass Tony ....

Moral considerations
No, you've got me Alf, what's them, then?

**AlfredJPruffock** · 3 February 2006, 14:39

Originally posted by Dundeegeorge

Moral considerations
No, you've got me Alf, what's them, then?

Moral ...I think its something or to do with sexual acts.

Perhaps thats why Mr Blair has that inane grin !

Blair suffers rebuke over lobbying