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Gold/Mining/Energy : Gold Price Monitor
GDXJ 126.14-0.1%Jan 13 4:00 PM EST

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To: Bob Dobbs who wrote (39294)8/19/1999 8:24:00 PM
From: Enigma  Read Replies (1) of 116856
 
Bob - in this case the physical production of 2,500 tons is only one leg of the equation - if there is a shortfall of 1,500 he could have said that 4,000 tons are consumed each year. This is the same kind of bias we see when commentators (today for example) say things like 'producer selling was evident'. I very much doubt if this was true vs. any other day of the week - but you will note that the commentators only focus on the (forward) sales and never on the purchases taking out prior forward sale contracts.
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