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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.70-0.3%Dec 5 4:00 PM EST
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To: Real Man who wrote (88199)7/23/2002 10:53:32 AM
From: marek_wojna  Read Replies (1) of 116796
 
<<Now, to illustrate a possible source of demand, let's take, say, Russia. Population < 150Million, GDP is around 800 billion, so roughly 1/12 of US. The population hoards 70 billion dollars in cash, which it calls "hard currency".>>

Bad example, Vi. For an average Russian gold is to sell in the times of hardship, dollar to keep. Will take $1000/oz. before the vast majority will start to convert dollars to gold.
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