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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.63

+3.0%

Dec 19 4:00 PM EST

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To: marek_wojna who wrote (86213)	5/31/2002 9:52:09 PM
From: E. Charters	Read Replies (1) of 116818

-- Higher Prices (of gold) Will Choke Off Consumer Demand - Negate Impact Of Producer (Barclays sententious pronouncements ...) yaaaah.. right. Like that ever was operational. Ever since paper money was invented they have been trying to sell gold like mad, in order to pump up the chit. It has never worked. Print too much of it and the chit becomes trash. Gold is the one commodity that has never ever been known to reduce demand when its price rose. It is the most inelastic commodity there is. You sell MORE ounces when the price is high than when it is low. That is reverse elasticity. The reason for this is the worth is perceived as greater so it attracts capital. Barclays is full of chit. It is one of them. The naysayers who loan gold and since 1995 have been trying to drive the price down. EC<:-}

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