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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

4:00 PM EST

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To: E. Charters who wrote (88640)	8/9/2002 2:34:07 AM
From: Don Lloyd	Read Replies (1) of 116779

EC, ...Gold's value as a thing does not change... Only if its value is defined in terms of itself. All economic values are subjective. Its exchange value is a combination of its value as a consumption good, its value as a production good and its monetary value, in modern economies limited to only its quasi-monetary function as a store of future purchasing power. The latter value is dominant and is dependent on the confidence that in the future it will remain used as a store of future purchasing power in an even more distant future. Regards, Don

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