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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.27

+3.5%

Jan 12 4:00 PM EST

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To: re3 who wrote (63233)	2/2/2001 7:37:33 PM
From: goldsheet	of 116853

> Bob, if i may, gold did go up in the mid 90's... Sure did. I was a gold bull starting in late 1992 and made some nice money. > what did it peak at, what did the xau peak at (rough #'s are fine) and why did it go up then ? XAU had a nice run from 80ish to 140ish. Primary gold production had been stuck near 2200mt for several years, while demand rose from about 3100mt to 3600mt. The bigger gap put pressure on the market, prices went up, and many of the low cost high production mines we have today were developed. > are the factors for a similar rise not in place ? Not from a supply-demand perspective. Mine production has been very strong, over 2550mt for the last few years. Demand peaked at 4228mt in 1997 and has moved down toward 4000mt recently. The gap is shrinking, which actually makes it easier to fill with recyling, central bank sales, etc ......

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