Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bobby Yellin who wrote (3407)	11/22/1997 2:57:00 PM
From: James R. Barrett	Read Replies (2) of 116814

Bobby, one thing that bothers me is the power the central banks have over the gold mining industry. Theoretically they could control the timing and quantity of the gold they sell in order to keep the price $5 to $10 below mining cost. After a couple of years most, if not all, of the mines would be shut down and they would have total control over the price. They could then raise the price just by withholding it for awhile and if some of the mines reopened they could lower the price by dumping more on the market so that the mines would have to close up again. If the banks sold their gold at the same annual tonnage rate that it is mined plus say 10%. With the amount of gold in their possession, they could continue doing this for 10 or 15 years. Does this sound feasible to you or am I getting carried away? I am the unhappy owner of a gold mutual fund which invests in gold mining stocks. Jim

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next