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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: Richnorth who wrote (3080)	11/12/1997 7:09:00 PM
From: goldsnow	Read Replies (2) of 116822

Rich, there are estimated 28,000 tons of gold in CB reserves. Assume all sold over 10 year. That would either halt or drastically reduce estimated world-wide 2400 ton/year production. Assume no new exploration (about a reality now), increase in population/consumption (always a geometrical reality) current ground reserves should be largely depleted by 2003 with astronomical costs of mine reviving. Rich, you are likely to have $700 party sooner than you think. Pure economics of very rare commodity, no politics. As for oil, you are less likely to retire on oil, and more likely on oil substitute. As for next world conflict (economic or military)-rest assured it would presents itself in timely order (always does) Did you note some producers found bottom? (on large volume I must add) XAU 75 should signal brisk buying

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