Press Release Summary = The Changing Global Supply and Demand Influences for Gold and Oil; China, India, Middle East
Press Release Body = 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
POINT ROBERTS, WA, Delta B.C. - December 8th, 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, 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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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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Source: Gold-MiningStocks.com, OilandGasStockNews.com, Golden Peaks Resources Ltd., Eden Energy Corporation
Web Site = http://www.oilandgasstocknews.com
Contact Details = For more information contact: Dawn Van Zant 800.665.0411 Email: dvanzant@investorideas.com\\ Ann-Marie Fleming 866.725.2554 Email: afleming@investorideas.com