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Gold/Mining/Energy : Gold Price Monitor
GDXJ 109.28+3.8%Nov 28 4:00 PM EST
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To: Ken Benes who wrote (35641)6/21/1999 2:30:00 PM
From: Enigma  Read Replies (1) of 116790
 
Because it will simply encourage other CBs to dump gold - also IMO the best thing that can happen now is for the B of E sales to proceed, and see what happens. I's possible some individual producers might buy gold at the auctions. If I recall correctly one of the producers bought a chunk of gold a while back to hold in inventory - I can't remember if it was HM or who it was - I think it was a million ounces.

I think the producers' time would be better spent lobbying and promoting the purchase of gold by retail customers. You have to remember too the history of governments vis a vis gold - confiscation,etc. Gold has been seen by governments as a threat to paper, and the producers have to tread a delicate line here. d
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