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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.29-7.0%Feb 5 4:00 PM EST
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To: long-gone who wrote (57026)8/6/2000 12:06:22 PM
From: Ken Benes  Read Replies (2) of 116972
 
I was not pointing a finger at any particular producer. I was making the point that the reason the pog is falling, supply and demand are out of sync. If gold was in shorter supply the price would rise, consequently with an abundant supply the price has fallen and continues to fall. There are three reasons for this, overproduction by the producers, gold leasing(the producers are intricately involved in this), and the simple fact that all gold produced in a year is added to an above ground hoard that can easily be resold as additional supply at any given time.
The prospects for this industry are not good and the producers are foundering in an environment they helped create.

Ken
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