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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: James F. Hopkins who wrote (9090)	3/31/1998 11:38:00 AM
From: long-gone	Read Replies (2) of 116759

Jim, Don't even know about all miners, "producers" i'm invested in are hedged based on projected year's production. If POG were to go up, I suspect they could increase production(put on more workers or OT)to sell balance at better price. Also, most have shut down many other mines,so these could also be put back into production. I've guessed that effect of futures play on POG is (at best) short term.Think the greatest key will be demand.This demand will be created when this "buy the index fund" herd type thinking is proven wrong. Other demand factors I see will be the coming increase in the population of India,Y2k,& medical usage. Indian population is projected to pass that of China around year 2005. I understand the fastest growing portion of the population is the middle class. These may be the greatest buyers(per capita) of gold in the world. rh

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