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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Crimson Ghost who wrote (7656)9/5/1999 10:08:00 AM
From: Enigma  Read Replies (1) of 81247
 
It's a sure bet that the major producers have met and discussed cutbacks - and have decided against it - maybe because of concerns over price fixing - or because, as I said earlier, there isn't enough commonality of interest. There would be nothing worse than for a producer to cut back in a major way, or to cease hedging, only to find that others were not following suit. Also the currency devaluations in S.A., Australia, Canada, and elsewhere have mean that gold is still quite profitable to mine in these countries. If we were living in a world where the $US was the only currency maybe over half the world's mines would be closed by now. WE seem to be at a bottom now - and maybe the reception of the next B of E auction will be a spur for a real rally.
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