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Gold/Mining/Energy : Barrick Gold (ABX)
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To: nickel61 who wrote (2722)5/15/2002 1:46:06 PM
From: goldsheet  Read Replies (1) of 3558
 
I think the historical monetary aspects of gold continued to be overstated in an attempt to predict its future price. It still is behaving primarily like a commodity priced on its basic supply-demand characteristics. Sure there are more dollars, more people, but also more gold. The last 6 years were all record production compared to all prior years. There's 15,100mt (485moz) of gold floating around that was underground 6 years ago.

An interesting piece of data: In 1960 when the world population was about 4 billion, about 2 billion ounces of gold had been mined, half ounce per person. Today with a popluation of 6B+, there is over 4 billion ounces of gold, about 2/3 ounce per person. There's actually more gold per capita. Gold production has been growing faster than population !
goldsheetlinks.com
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