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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

Dec 2 4:00 PM EST

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To: Zardoz who wrote (24984)	12/28/1998 9:59:00 AM
From: Enigma	Read Replies (1) of 116791

Hutch - re: Russian sales. At the moment Russia doesn't appear to be a big player in the gold equation - the reduction of $100 million in reserves (assuming for a moment it is all gold - which it may not be) represents around 345 thousand ounces or around 11 tons. These things can be used by protaganists to make a point - but the point is a minor one at best. Also it smacks of the glass is half empty viewpoint - for every seller there must be a buyer - maybe another CB bought this little amount of gold - could it have been Poland, Japan, China? What if they bought a lot of gold over the same period - are we going to be a presented with a list of CB buyers for a change? There always are buyers - funny how it is so seldom reported? I also have a suggestion for Teevee - maybe he should visit the World Gold Council Website and read about actual demand and supply statistics and return with some factual data. E

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