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Gold/Mining/Energy : Gold Price Monitor
GDXJ 124.11-13.6%Jan 30 4:00 PM EST
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To: teevee who wrote (24995)12/28/1998 3:34:00 PM
From: E. Charters  Read Replies (1) of 116952
 
This is not true. There is no threefold increase of private gold mines over public ones. Unless you are talking South Africa and most of their mines are now public. The production of gold is not a useful secret. The only value of it is in sales and this is reported as other gov'ts and banks and people have to buy it. I don't know of a single private gold mine in Canada. There are a couple of outfits in the states but there output is dwarfed by publically owned mines.

My stats are from Minerals Handboook, Phillip Crowson, Stockton Press.

I am sure if the authors had known about private sources they would have included them. If they are egregiously wrong then I suggest yuou write them and inform them. It might help if you quote your sources.

What may be misleading you is that most of the world's gold is indeed in private hands in countries like France and India. Other gold hording nations are the Asian ones with an unknown amount of gold actually. It can however be estimated as production is low and for centuries was mostly placer. Most new gold gets used for jewellry. In many countries this is a form of hoarding and sequestering from confisticatory governments. Don't look for India's new gold deposit fund to have much success as people horder gold because they don't trust governments.

EC<:-}
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