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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Hawkmoon who wrote (6637)6/23/1999 10:22:00 AM
From: Enigma  Read Replies (2) of 82066
 
Ron - First the news from the Congress is excellent - this IMF thing should be killed if only for the crushing lack of logic inherent in it.

Second - if this is not a bottom or near bottom in gold I'd be very surprised. Balance of risks vs. internet stocks, etc., which brings me to the

Third point: Too much emphasis is being placed by you on the mining cost factor - sure gold can be mined for less - but the mine supply/industrial demand equation is in deficit. So the main problem is on the speculative side - most speculative money over the last few years has been sucked into paper assets and away from hard assets like gold - the gold market is thin compared to paper in all its forms including derivatives. Perceptions change - the gold market will IMO surprise everyone - it won't take much disenchantment with paper for this to happen. You read it here first - remember?
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