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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: Bilow who wrote (43100)	10/16/1999 5:10:00 AM
From: d:oug	Read Replies (1) of 116764

O49r helpppppppppp & slap this boy around good and then soap out his mouth <<gold production... ... changes in production have less of an effect in the gold market than in the oil market. This is why the gold producers can't drive the price up much.>> <<So if the miners were going to do anything, what they would do is reduce sales of gold, not production. This would have the effect of making their balance sheets very dependent on the price of gold, which is exactly what they don't want to have. What they want is predictability, which is why all those hedging programs were in place.>> <<If the miners wanted to run the price of gold up, they might as well buy it on the futures market. "Texas hedge">> <<I really doubt that the miners are going to reduce production. In fact, with the recent price rise, they are, without doubt, increasing production as fast as they can. But all that production increase will hardly make much of a dent in the total amount of gold held above ground -- Carl>>

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