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Gold/Mining/Energy : Gold Price Monitor

GDXJ 127.15

+0.4%

Jan 15 4:00 PM EST

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To: Zardoz who wrote (20925)	10/7/1998 7:51:00 AM
From: Mark Bartlett	Read Replies (2) of 116857

Hutch, << How can a commodity that the PDG CEO says cost $170 oz to produce, could be worth $300/oz? Fundamentally it aint worth i>> Well ... I would bet Coke cost less than 2 cents/bottle to produce ... and Coke does not seem to have trouble getting 1.00 for it. IMO you view the world too much from the perspective of the a first-world country. There is still a huge part of the world's population that hold gold dearly. The fact is Hutch, even the average person still senses some degree of comfort knowing that in tough times they can rely on something real - not on a piece of paper. It is fine for you to talk about all of the hedging ... the deltas and the gammas - but to most people that mean nothing. As far as I am concerned - as long as only a few countries control the currency's of the world, there will never be any type of real stability. It relegates most others to some sort of third world status. Look at what the currency traders did in some of the Asian countries .... that was ruinous for those people. There must be an anchor in the monetary system that all can moor their boats to - and it can not be another currency. There has to be a common anchor for all ... and gold is the best choice, otherwise currency turmoil and world instability will be with us for a long time. MB

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