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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Hawkmoon who wrote (51552)	4/15/2000 6:24:00 PM
From: Enigma	Read Replies (2) of 116764

EDIT 1"There is currently lower demand than existing supply (in the form of Central Bank holdings and increasing mining production efficiency)" 2"But buying gold, betting that it will appreciate in this relatively benign inflationary period, is tantamount to gambling. This is made even more of a gamble by the existence of "better games" in the form of inflation indexed bonds that increase their yield in line with the current inflation level. Only if we saw hyper-inflation in the US economy would gold be considered a must have in one's portfolio" Satement 1 - central banks have held gold forever! You're confusing supply with a holding. Sttement 2 - didn't you notice the latest inflation figures? What is spooking the markets is the rise in core inflation. It is absolute nonsense to claim that we need 'hyper inflation' for gold to rise. When did we last have hyper inflation - do we have to go back to Germany in the 20s? Well you might classify the late 70s as being a period of excessive inflation - but gold has risen many times since then. If inflation moves from 2% to 3% it is a 50% increase - everything is relative.

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