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Future Global Commodity Trends in the Mining and Energy Sectors -- Varied Predictions, Multiple Influences
The Changing Global Supply and Demand Influences for Gold and Oil; China, India, Middle East
| Source: Gold-MiningStocks.com; OilandGasStockNews.com; Golden Peaks Resources Ltd.; Eden Energy Corporation
POINT ROBERTS, WA and DELTA, BC -- (MARKET WIRE) -- December 8, 2006 -- www.Gold-MiningStocks.com
and www.OilandGasStockNews.com, industry portals for the mining and energy
sectors, provide research tools, news and industry perspective to investors
and industry following global developments that impact these areas. Demand
from China and India in both oil and gold, combined with tensions in the
Middle East have some analysts predicting higher price trends for both
commodities, but as always, there are others in the market with conflicting
views and forecasts. Analyst Jon Nadler from Kitco provides insights to the
ever-changing volatile gold commodity markets. Eden Energy Corporation
(OTCBB : EDNE ), a company developing large-scale oil and gas projects, gives
comments on how a small company can evaluate the oil markets.
Recent developments including Saudi princes shifting from the stock market
to purchasing Gold since early October, and China Vision Resources
purchasing 17 million shares of mining company Anglo American from
Oppenheimer & Sons, have put some interesting new faces on gold. Driving
factors already in force include demand from China, India and Brazil and
have most analysts forecasting higher prices. According to World Gold
Council (http://www.gold.org), "The last few weeks of September saw vibrant
demand for jewellery and retail investment, particularly in Asia and the
Middle East, with Indian imports in September at the second highest monthly
level ever." To read the Gold supply and demand report for Q3 2006:
http://www.gold.org/value/stats/statistics/gold_demand/index.html.
Jon Nadler, investment products analyst from Kitco Bullion Dealers, noted,
"We are indeed pleased to see that after an almost year-long hiatus, the
Asian (India in particular) gold jewelry demand has once again become
robust. Evidently, buyers are becoming accustomed to an
incrementally higher bullion price level and may also have come to believe
that gold near $600 is sustainable -- thus no further reason to postpone
seasonal buying of important traditional items. India is the world's
largest gold consumer -- naturally it is vital that observers keep a keen
eye on its buying patterns and perceptions regarding gold's values."
As oil bounced off its seventeen-month low and oil prices have stabilized
and moved higher since the October announcement issued by OPEC
(http://www.opec.org), "the Conference decided to reduce production by an
amount of 1.2 mb/d, from current production of about 27.5 mb/d, to 26.3
mb/d, effective 1st November 2006. This interim arrangement will be
reviewed at the Extraordinary Meeting of the Conference scheduled to
convene in Abuja, Federal Republic of Nigeria, on 14th December 2006." OPEC
just updated forecasts on world crude oil demand, projected to rise by 1.6
percent, or 1.3 million barrels per day (bpd) in 2007. Tension in the
Middle East, potential risk to production, weather conditions and
increasing world demand, set the stage for oil prices potentially rising
from current levels.
When evaluating oil prices in relation to the Company's current drilling
and production plans, Eden Energy Corporation (OTCBB : EDNE ) President and
CEO Don Sharpe relayed, "We use the Nymex forward strip prices when
evaluating the economics of a potential project. We like the strip since
it's the market's independent estimate of prices going forward, and perhaps
more importantly it represents a price deck that we could lock into should
the project proceed. This takes one more unknown out of the equation and
lessens our risk."
Featured Gold and Mining Portal Sponsor: (MSS, GMS are compensated by
Golden Peaks as disclosed in disclaimer.)
Golden Peaks Resources Ltd. (TSX : GL ) is a progressive international
exploration and resource development firm that holds over 385,000 acres of
prospective land holdings in four of Argentina's most established mining
districts. At present, the Company is advancing five high priority gold
projects (100%-owned or with the right to acquire 100%). For More Info:
http://www.gold-miningstocks.com/CO/GL/Default.asp or
http://www.goldenpeaks.com/
About our Mining Portals:
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Gold-MiningStocks.com and MiningSectorStocks.com include a comprehensive
and growing list of Mining Stocks:
http://www.Gold-MiningStocks.com/Gold_Stocks/Stocks_List.asp
Featured Oil and Gas Portal Sponsor: (OGSN is compensated by Eden Energy as
disclosed in disclaimer.)
Eden Energy Corporation (OTCBB : EDNE ) has acquired 261,000 acres in Eastern
Nevada. This acreage in part encompasses the Noah Oil Prospect, a giant
53-mile-long,
7-mile-wide linear anticline. For More Info:
http://www.oilandgasstocknews.com/CO/EDNE/Default.asp
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for five thousand dollars per month, Eden Energy Corporation (OTCBB : EDNE ):
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