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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: Alex who wrote (26034)	1/12/1999 8:42:00 PM
From: lorne	Read Replies (2) of 116770

Hi Alex. There is no doubt you are correct but I don't think that gold is dead just yet been comatose for quite a while but not yet dead. Why do CBs continue to hold vast amounts of gold if its dead. I have been assumimg that CBs are trashing gold because they fear the competition to their paper. Why should this be, shouldn't gold reserves add to the value of their currencies. Even without a gold standard wouldn't $1200/oz gold add to the value of the US$ and is it true that international debts can be paid in gold if so you would think that CBs of the world would want higher gold prices. There was a list on this thread a few days ago indicating which CBs had increased their gold holdings in the last year, why? if gold is dead. As has been posted here many times gold sales to private citizens world wide is up some places claiming record sales. I would like to ask people of the big gold consuming countries if gold is dead. I think that as long as gold remains at these low prices in terms of $US there will be record sales of gold items in th USA, sort of like a fire sale and as long as these low prices continue the big miners are moving a lot of their product likely more so than if the price of gold is higher. Gold miners have only one product and I am starting to think that perhaps they want the price lower so as to be in the purchase range of the average citizen they can sell (or move) a lot more at 200/oz than at 800/oz and still make a good profit. Like you said gold is not reacting as it has in the past maybe because it is being kept in a lower price range by the big producers. So I am now beginning to wonder how a higher gold price would have a negative affect on a countries currency especially if that country holds a lot of gold reserves. I am also wondering if the leasing business has gotten out of control and there is now no way out. Why all the takeovers or mergers by the big producers To control supply? to supply cheap gold?. Lorne Frustrated.

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