Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (2935)	5/20/2002 8:17:24 PM
From: nickel61	Read Replies (1) of 3558

"has examined the chart for over one hundred years, and the sideways to downwards drift for the POG is obvious for the large majority of years in that longer term." You have made this assertion again and again." And it is pattenly false. How do you take gold in US dollar terms and say that it is sideways to down for the last hundred years. That is absurd. Gold was $20.25/ounce for most of the nineteenth century and rose in value to $40/ounce in 1934. With the 1960s it was allowed to rise to $42/ounce and then when the convertability of the US dollar to gold was totally severed in 1970 it rose to $150/ounce by 1978 and eventually to an average of $350-$450/ounce from the late seventies through 1996. THat is $20.25 to $416/ounce in March of 1996 or a TWENTY FOLD INCREASE in the last hundred years...how the hell do you call that sideways to down???? OR maybe you have redefined what it is measured in? GGGGGGGGGGGGGGGGGGGGGGGGGGGGGG

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