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Gold/Mining/Energy : Gold Price Monitor
GDXJ 105.34+5.2%Nov 26 4:00 PM EST
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To: Enigma who wrote (42565)10/10/1999 11:07:00 AM
From: goldsheet  Read Replies (1) of 116768
 
> If people are unaware that Barrick writes calls they shouldn't call
> themselves mining analysts! dd

There are a lot of folks who speculate in mining stocks because they have a vague gut feeling gold will go up. They may have never read an annual report, not have a basic understanding of geology, know how much gold is produced, or how much central banks hold. That's what makes a market ! The gold markets depend more on the perception of the facts than the facts themselves.

My favorite current fact: Over the last decade ALL of the world central banks sold an average of 265 tonnes of gold per year (high:622mt, low:81) Now we have 15 CBs announce that they will not sell more than 400mt per year. Now I know that it reduces the fear they will sell it all off, and brings some stability to the market, BUT it is still 150% of what all central banks have sold historically.
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