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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: Alex who wrote (6161)	1/19/1998 3:23:00 PM
From: Mikey	Read Replies (1) of 116762

The last time gold was under $300 was in 1985 at $284. Before that the biggest low I have info on was in 1979 at $216. Can anyone relate these prices to cost-of-production in those years? For example, can we say that production in '79 cost $220 per ounce and that gold barely went under that, therefore since we are close to production price today we are at a bottom? Or was the cost of production in '79 $100 or something? Another interesting thing...since that low of $216 in '79, if you take the high and low of each year to get an average for the year, and then average all of the yearly averages from 1979-94, you get an overall average of about $400 per ounce. ($401.61) M.

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