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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

4:00 PM EST

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To: BGR who wrote (35072)	6/9/1999 10:37:00 PM
From: long-gone	Read Replies (1) of 116762

This is how I see gold. <1. An inert metal w/ little industrial usage. (-2)> Pure B.S. pasted here by one with a short gold position.(a) World's most malable metal - a single oz can be drawn into a sheet which will cover 100+ sq. yards.(b) best conductor of electricity at room temps. (c) does not corrode or oxidize. (d) medical uses(discounting dental which could be said to be cosmetic)growing with each passing day in part because it is inert (e) best available conductor of temp. (f) disipates heat extremly well(see the gold tiles on all manned space shot returns)(g)as a electrical conductor is often cheaper than replacement or failure. Mil-Spec required in near all connection points where mission critical or pilot critical low resistivity are needed. (h) for reduced repair is used on every telephone made by AT&T, Lucent, US West... and required for all Phone contacts where there are US Govt. contracts. <2. Has cosmetic usage mostly in the third world, which is declining except in South Asia. But that depends so much on style and other intangibles. (+1)> Another plain and simple lie. gold jewelry sales increased every year for the last 10 in North America. <3. Has no intrinsic value like its peers (other currencies) which are backed by the respective economies (as opposed to the Central banks). (-2)> backing by an economy is hardly "intrinsic", as it can be altered by whim. Gold reserves are partial backing for the US$ British pound(they are not selling all, only 1/2) the Euro, the Russian Rubble,... <4. Doesn't produce dividend. (-1)> respected as collateral by near every bank allowing one a far lower interest rate when a loan is over secured <5. Is considered by many to be a hedge against inflation. That belief alone - and nothing else - makes gold a hedge against inflation. The moment the belief collapses (as it seem to be doing at present for central banks), gold has to be valued based on the above 4 points, which gives a total rating of -4. Belief is even more an intangible than style. It's kind of like TA.> the value is(or will soon again be) based on limited amount existing in nature.

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