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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.04

+0.4%

Nov 11 4:00 PM EST

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To: goldsheet who wrote (52659)	5/13/2000 4:24:00 PM
From: Alex	Read Replies (1) of 116753

SA production is down 6.1% year over year........ Message 13668963 North American production is also declining. I do agree that world production of gold has increased in the last two decades, but the amount of gold available is limited. Especially gold that can be mined profitably at todays prices. Unlike the endless supply of greenbacks that the world is so enamored with right now, gold has value. I doubt anyone here seriously believes that the U.S. broke its' link with gold because gold was too plentiful. Hardly. Truth is, M3 has grown by over 53% in just the last 4 years. Is it any wonder that the Arabs demand more fiat for their rare and limited oil supplies.

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