Forecasts for 2004by Dr. Clive RoffeyExtract From Gold EagleI...

Forecasts for 2004
by Dr. Clive Roffey
Extract From Gold Eagle

I expect the South African Rand to continue to weaken, and from being the world’s strongest currency in 2003, to become it’s weakest. I look for R8,50 to the dollar at some stage.
The dollar to continue to weaken against the Euro to at least $1,35 with $1,40 a distinct possibility.
One of the most significant moves of the year should be the rand price of gold. Currently it is trading at R88 000 per kilo. Even the most marginal of all the major producing mines, Durban Deep, is making a profit at that level. But my target of at least R120 000 per kilo during the year will send the South African gold stocks into orbit.
South African gold stocks to out perform the North Americans with Drooy at the forefront of the charge.
I have continuously detailed that the South African gold shares MUST move back above their peaks of April 2002 and this I expect to witness during the year. Some of these gold stocks should appreciate well over 100%.