LHG unknown

Seasonal charts for gold and other commodities

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    http://www.spectrumcommodities.com/education/commodity/charts/index.html has a set of charts showing seasonal patterns for individual futures markets. There are also brief explanations for why the seasons occur.

    Gold bugs might be interested in the significant spike which normally occurs in September http://www.spectrumcommodities.com/education/commodity/charts/gc.html . This could tie in nicely with the recent down trend in commitment levels http://www.softwarenorth.net/cot/current/charts/GC.png .

    A note of caution about LHG, however:

    http://www.sanford.com.au/sanford/Members/MarketInfo/News.asp?Source=Reuters&ArticleID=49649

    Papua New Guinea volcano erupts, thousands evacuated
    16:15, Thursday, 8 August 2002

    PORT MORESBY, Aug 8 (Reuters) - A volcano on the Papua New Guinea island of New Britain is erupting, spewing ash up to six km (four miles) into the air and forcing thousands of villagers to be evacuated, officials said on Thursday.

    The Mount Pago volcano, about 50 km (31 miles) south of the town of Kimbe, began erupting on Monday but there have been no lava flows, said a vulcanologist in the island capital, Rabaul.

    The last eruption was in the 1920s, experts say.

    No one has been injured, although a few elderly people have been treated for breathing difficulties caused by the ash, said a spokeswoman at Kimbe's hospital.

    "It started erupting Monday and it has not really stopped," said Ima Itikarai at the Rabaul Volcanology Observatory. "It is spewing a volcanic ash cloud."

    "The ash plume is five to six km above the summit," Itikarai told Reuters by telephone.

    The eruption has left many villages at the foot of Mount Pago under ash and has closed the nearby airport, disrupting regional air traffic. Kimbe, the nearest large town, has been unaffected.

    Up to 8,000 people have been evacuated from villages to care centres around Kimbe, said Itikarai. "There are five or six active vents on the northwest flank producing lava, but it is not flowing, just creating cones," he said.

    Papua New Guinea is on the Pacific's volcanic belt known as the "Ring of Fire". Rabaul, on the northern tip of New Britain, northeast of the national capital Port Moresby, was devastated in 1994 when two volcanoes on either side of the town erupted, forcing the evacuation of 30,000 residents.

    Vulcanologists said Pago was a young volcano -- its cone was probably only about 350 years old -- but it was part of a much larger volcanic complex. Its eruption was not yet classified as serious, but it was difficult to predict.

    "It seems mild. It is difficult to assess the development of the eruption. It is not critical at this stage," said
    vulcanologist Jerome Lecointre at the Massey University in New Zealand. The university has a vulcanologist on Mount Pago.
 
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