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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.34

+3.7%

Jan 5 4:00 PM EST

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To: Ken Benes who wrote (75893)	9/6/2001 5:13:22 AM
From: Alex	Read Replies (1) of 116842

<<MININGWEB: It's a good argument. But, on the other hand, you have so much gold in the vaults of the central banks. BOBBY GODSELL: Sure. That's a problem that I think is much less than it was a couple of years ago. I think that gold selling and even gold lending from the central banks is now regulated. There's a Washington Accord that limits both of those things. We are going to see another 400 to 500 tons of central bank gold coming onto the market every year. That can be dealt with. The larger problem is undisciplined production. Production has risen relentlessly over the last two decades, while the price has first gone sideways and then down. And small companies that are single ore body companies have no choice but to produce every ounce that they can. A larger company that can flex its exploration, its project development and its production, according to market circumstances, just makes sense - and that's the way the mining industry is going worldwide.>> mips1.net

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