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Pastimes : All Clowns Must Be Destroyed
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To: Terry Whitman who wrote (41357)6/22/2000 10:35:00 PM
From: Spekulatius  Read Replies (1) of 42523
 
I do not know the total "demand" for gold - Nobody does.
However, i do know that the industrial demand for gold is only a small percentage of the world production, the remainder goes in jewelery (which I consider consumption as well) and buys for investment purposes (coins, bulk gold etc). However,the latter is not consumption, since its simply stored to sell it at a higher price.
During the last twenty years, the gold price usually has found a floor at about 300$ which happens to be the breakeven point for a lot of mines. So Gold at US$ 100 dollar is very very unlikely.
Gold stocks are cheap right now, but I do not think its as important as it used to be, so as an inflation hedge, I would use a basket of mining precious metal, energy ,lumber ,grain processing stocks rather than gold /gold mines alone.
The gold price is just too political to me and I believe that precious metals with a significant industrial use like Palladium and Platinum will do better in the future.
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