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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

4:00 PM EST

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To: Enigma who wrote (53397)	5/30/2000 6:33:00 PM
From: Ken Benes	Read Replies (1) of 116779

I am very aware of the world in which we live and it is a world of choices. Unfortunately, the gold producers have insulated themselves from the reality of the market place. They have chosen to increase supply when the world is awash in gold. They have accomplished this by continuing to develop new mines and along with retailing central bank gold thru gold loans and forward sales. Net, net, the price of gold has fallen, leaving the producers in a state of disaray with little understanding of what has happened. So insulated are they from the dynamics of the market place, they proceed to bring on line additional production, when there are indications that the demand for gold is about to abate. Ken

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