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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.76

-6.4%

Dec 29 4:00 PM EST

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To: pater tenebrarum who wrote (56466)	7/19/2000 1:46:05 PM
From: Don Lloyd	Read Replies (2) of 116834

hb [...what is a realistic value for the PoG? a third of global production is already unprofitable at current prices. i doubt that you, or anyone else knows what a 'realistic price' actually is. there's no way to evaluate that question properly due to the special role of gold. it's not an industrial metal that can simply be judged by supply/demand information. it's a political metal. the primary supply/demand deficit suggests the price should be higher - it's the CB sales overhang and the leasing scam keeping it down...] The appropriate question would not be accounting profitability, but only the forward look, treating all past costs as sunk costs. Does my company go broke slower by shutting down or continuing to mine? Supply/demand must be different for gold vs oil (if it were really a depletable resource) in that it is never consumed, but rather just stored in different forms. Regards, Don

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