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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.01

+2.8%

Nov 5 4:00 PM EST

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To: strenlich who wrote (278)	7/9/1997 7:18:00 AM
From: Bill Jackson	of 116752

Strenny; Recycled gold from computers etc completes the shortfall equation. Industrial use and jewellery lock the gold up for the long haul. The current crop of computer scavengers are just running out of the thich plates of the 70's and 80's. When gold went to $850 there was a frantic rush to design it out/thin it out in electronic and computer uses. To such a degree that modern computers have only 5-10% of the gold that the old ones had. Gold lead wires are gone, gold epoxy bedding paste is gone(except for a few high heat uses and some military applications). So gold from industrial recycling is a long term decline and the small amout left in most computers has become so marginal that a lot is not reclaimed as the cost exceeds the profits. (old boards were worth up to $50 per LB, new ones 50 cents/lb) So the hoard in national hands will stabilize gold for the next 15-30 years as I doubt they will dump it all at once(except for the last year or two by the europeans for the ECU reasons). The point of stupidity has been reached and I think smart governments will hold off selling as they see what they lose. Hong Kongs smooth transition will allow many mainland Chinese access to gold at world prices, instead of inflated internal prices, and their hoarding will grow rapidly. (you are not going to change their minds about gold with a European Currency Union, they will want it for the next 1000 years. I think we have seen the worst, and a reverse will come soon. Bill

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