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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (110691)6/29/2001 4:56:44 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
i think i know why...jewellery demand, which would be impacted by a global recession, doesn't drive the gold price. this part of gold demand has increased year after year for as long as i can remember and is currently 600 tons higher than global annual production. but it does nothing for the price. gold's allure lies in the potential for a revival of INVESTMENT demand, the only demand that drives the price historically.
and investment demand will revive once the central bonkers are seen as losing control over their credit bubble, something a global recession may well bring about.

i agree of course that something that acts well in spite of countless obvious negatives is trying to tell us something.
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