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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: PaulM who wrote (6259)	1/19/1998 5:41:00 PM
From: Mark Bartlett	Read Replies (2) of 116785

Paul, <<There are a number of implications of all this, but I'd be curious to hear comments. >> Interesting hypothesis ..... I think it has some merit It would IMHO, only make sense though, if at some later point in time, gold was allowed to rise again, otherwise they would be accepting a depreciating asset as payment, especially in the face of the strong US dollar. In addition, (as you pointed out) we are at a critical juncture vis-a-vis the state of the economy and the affect a price rise in oil would have. Clearly there are advantages for capping the price AMAP. I do not buy the official reasons for the present gold price either .... as was pointed out by Pringle, there have been much higher CB sales in the past, and gold has risen in price - in spite of it. Things are not adding up as far as I am concerned .... do not know whether we will ever know the truth though - but it makes for an interesting discussion. MB

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