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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: goldsheet who wrote (52671)	5/14/2000 6:08:00 AM
From: Alex	Read Replies (2) of 116756

<<They are generating more cash flow and profits today than a year ago, despite the low price. It seems gold investors are the only ones left that have not been able to accept this new reality.>> Bob. I don't think that it's the gold investors that have not been able to accept this. I own Eldorado Gold, a junior, which has shown five consecutive quarters of profit and good cash flow and is trading at a p/e of just over seven. But like most juniors they have lost 95% of their share value in this market despite all of this. They're not a dot com. No one cares in this 'new economy'. It's similar to my point on the U.S. dollar. In this economy the dollar can apparently multiply at any rate without having to face the scrutiny that gold does. What's even odder is that this constant harping about gold oversupply, in the face of what's going on with M3, is happening on this thread - the Gold Price Monitor, amongst gold investors. The dollar safe haven mantra is just repeated ad infinium regardless of all facts. Maybe real gold in the ground and producer hedging is not enough. Maybe they need to take a lesson from the central banks and initiate fractional gold reserves that they can multiply endlessly into the future while watching the value of those reserves skyrocket. Why not? It works for the dollar.

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