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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: goldsheet who wrote (68162)	4/23/2001 11:48:06 PM
From: E. Charters	Read Replies (1) of 116762

All gold forward buys are hedged. How much selling forward is being done I dunno. GFMS has an interesting website. It is what I call a 50% website. Pretty with no real information. You can see why. They are selling paper. 1500 bucks for their gold survey. They would probably make more money putting people on monthly subscriptions. By contrast SI is fast and dirty but is has the customers. Of course they make no money so eventually they will fold and we will doing this on usenet. The economic model of the Internet is working itself out. Few place to go. Forums are a terrific attraction but how do you make money from something that is basically a washroom wall without the beer sales? E-Bay makes money or at least a bit of money. People make money who use it. Usenet makes money for people who use it. Gold demand or sales in 1976 was 1448 tons. Jewelry demand was about 958 tons. So demand has increased substantially. The low gold prices of the last few years will have dropped supply a lot. (hope and pray) This should help prices. 85 tonnes is comparable to half Canada's production. This figure equals 3.4 % of 1998 production. It may not seem much to you in calculation of the percentages, but remove it and it would shake the industry. Never mind sales. What are the production figures for the world? SA use to be 70% of world production with 750 tonnes per year. The US was behind Canada at one time, now better than roughly double in production. Ans--> about 2500 tonnes. Demand however is higher than production or so it would seem. See DERIVATIVES and Gold Sales. Gold Trends 2000 gold.org DERIVATIVES - Usage of Borrowed gold by the Mining Industry. ------------------------------------------------------------ ---> gold.org Gold Sales ----------- speculativestocks.com All about Gold --------------- pubs.usgs.gov Roll your own Gold ------------------ pubs.usgs.gov World Mine Production from 1994 to 1998 varied from 2250 to 2480 tonnes metric. (USGS tables) EC<:-}

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