Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rarebird who wrote (39409)	8/22/1999 1:51:00 PM
From: goldsheet	Read Replies (1) of 116846

> Demand for gold far exceeds mine production," said Mr. > Lutley, with the difference made up by recycling or > scrap and central bank sales. Recycling was the major factor ignored by most analysts which I think took gold from $400 to $300. (I'll blame central banks for 300-to-270) Central bank sales were relatively flat at 406mt in 1997 and 437mt in 1998. Recycling which had been 621mt in 96, 611 in 97, jumped to 1094mt in 1998. (Asian currency crisis) Demand for all metals exceeds primary production, so one could claim there was also a gap for all metals, but one should not immediately jump to the conclusion they were going to rise. Any good analysis of the gold market should include the secondary supply from scrap. Gold scrap can be thought of as the largest mine in the world, with reserves of close to 1 billion ounces in jewelry/coin/bullion held by individuals (not central banks), an ore grade of 14-24 carat which is no primary mine can match, and it can deliver 20+ million ounces to the market each year.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next