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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (7632)9/4/1999 11:49:00 AM
From: Enigma  Read Replies (2) of 81226
 
This is Ken Benes point. Traditionally when gold prices fall the miners highgrade - i.e. mine the richer ore. This must be happening now in a big way with the underground mines - however most of the large mines which have come into production in the last decade or so are huge open pit low grade deposits - so highgrading is not possible. My only guess at the thought process is that the large producers know they can keep on going and are counting on the marginal producers falling by the wayside, which in turn will cause a rise in the POG. There is no commonality of interest between the parties. d
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