Dear Anglo Swiss Shareholders,
In our ongoing efforts to provide broader communications and market information, we are pleased to provide you with Industry Sector Bulletins discussing current market opinions and/or conditions that affect the price, supply, and demand of Gold.
The markets have been slumping for the past several weeks; however the price of Gold remains steady fueled by the rapid growth of Indian and Chinese economies. Indian gold consumption, for both jewellery and retail investment, hit a new high of 317 tonnes, while in China gold demand rose by 32 per cent to 76 tonnes in the quarter.
Enter Anglo Swiss Resources, a Canadian exploration company focusing on exploring its Kenville Mine property for Copper, Gold, Silver and Molybdenum. Anglo Swiss recently announced that the Company will commence exploration on a large anomalous zone measuring 1000 x 250 meters along a NW/SE trend, originally discovered by Teck Corp. ("Teck"). The 1995 Teck drill program was successful in locating several zones of copper, silver, gold and molybdenum mineralization and a significant new gold quartz vein.
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AGORACOM Investor Relations
Going for Gold
Globe and Mail -- August 15, 2007
Sales associated with a key religious festival in India, the world's largest consumer of gold, and the fact that in China 2007 is, auspiciously, the Year of the Golden Pig, helped drive demand for the yellow metal to a new high in the second quarter, the World Gold Council says.
While it is unclear so far what impact the turmoil that has wracked financial markets for the past several weeks will have on sales of the stuff, traditionally a refuge for investors in uncertain times, 922 tonnes of it changed hands around the globe during the quarter, the mining company-funded council said Wednesday. That was 19 per cent more than a year earlier, while the total value was $19.8-billion (U.S.), up 27 per cent.
Indian gold consumption, for both jewellery and retail investment, hit a new high of 317 tonnes, the equivalent of half the global mine output during the three-months period, the council said.
It attributed the performance to more stable gold prices, India's booming economy and the fact that the quarter included the religious festival of Akshaya Thritiya, which fell on April 20 and is considered one of the four most auspicious days of the year for Hindus, especially for buying long-term assets, such as gold, silver, precious stones and real estate.
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