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Gold/Mining/Energy : Gold Price Monitor
GDXJ 143.68-4.5%Jan 29 4:00 PM EST
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To: Alex who wrote (70772)5/30/2001 2:05:46 PM
From: ahhaha  Read Replies (1) of 116938
 
The producers are not forward selling (shorting)

Forward selling isn't shorting. It's selling inventory and is only a problem if they can't deliver, but that's a problem that would send them out of business anyway.

and neither are they overproducing,

They're producing at the demand rate. In many cases they don't want to produce more because that incurs capital cost that isn't recoverable at the current POG.

and the CB's are not leasing nor selling either.

CB selling has little or no effect on price. It only effects price instantaneously if at all. How could POG rise almost right during BOE's gold selling?

What determines price? Expectations for future inflation. If you ever think to the contrary as the dumb gold mining companies did for years, then you'll never survive in this decrepit arena.

Leasing is an arrangement to enable the companies to survive. Why can't you see that it's in the interest of the companies to survive and it's in the interest of CBs to see that they do survive? The only other conclusion you could reach is that CBs are trusting. They don't trust you and they surely shouldn't, and so they want to make sure a supply of gold is always available.

The pog is stable.

Indeed, if you look at a five year chart outside of the slow down trend and the lunatic spikes which are the nature of commodities, the price has been remarkably stable.

Here's the proof.

QED
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