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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.90

+0.1%

4:00 PM EST

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To: lorne who wrote (71664)	6/13/2001 3:04:00 PM
From: IngotWeTrust	Read Replies (3) of 116795

Truth is, Lorne, Russian gov't is the ONLY buyer of domestic gold production. And the last documented price I was able to research was US$200 per ounce, obviously safely under the $265ish trading range. Furthermore, the sartelli (Russian miner--US spelling) are allowed to work on their own time to supplement their meager wage structure. However, all gold they extract on their own time, they are ALSO required to sell to the Russian gov't as well. On prodigy.net XAU bbs days, we formerly had a regular poster who was a "visiting guest" to these shores. He spoke often about the thriving black market in Russia. My guess it, not all "industrious sartelli production" makes it into the gov't vaults. Perhaps the authorized 40T purchase in your article is speaking of the anticipated purchases from local gold [busy beaver] miners... I have no way of knowing for sure, but those were my musings when I read your posted article. Thanks for the tidbit. gold_tutor

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