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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: teevee who wrote (24967)	12/27/1998 8:36:00 PM
From: Bob Dobbs	Read Replies (2) of 116796

Teevee: <Gold miners are adding about 6500 tonnes of new gold every year to existing gold which exists as reserves, bullion, jewellry etc.> I'd sure like to see the information source for the 6500 tonnes production you mention. Where did this come from? <mining companies keep delivering more to the various piles every year and central banks keep buying it-so...the real physical market is glutted with oversupply> I don't understand this comment. Can you expand upon it? <A lower price of say $US 200 per ounce will help get the supply back in line with demand.> Can you give figures? What do you mean by "get supply back in line with demand?" Who is supplying what and who is demanding what and how much is the imbalance? Bob

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