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Gold/Mining/Energy : Tan Range
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To: bc who wrote (34)1/8/1998 2:07:00 AM
From: maintenance  Read Replies (1) of 122
 
Hello,

I agree. At this point Sutton is a good place to look to see how TNX will be if they prove up reserves.

Selling by CB's has wiped far more off their balance sheets than the revenue generated from the sales. I would expect that this should result in more thought behind their sales, and a increase in POG.

I think fiat money is the way of the future, but I don't think this has to negatively impact the POG. Slow coordinated selling of CB gold is OK, I expect this to continue. CB selling can not fill the supply demand imbalance for ever. The high number of mines closing down will put the supply demand equation into further imbalance. For these reasons I think the POG will rise sharply. Unfortunately I can't even guess at when. CB's have a lot of gold they can sell, enough to supply the market for many years. IMO it depends on whether they can successfully coordinate the sales.

Cheers
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