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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: John Hunt who wrote (26942)	1/24/1999 3:03:00 PM
From: philv	Read Replies (1) of 116767

John: There is a large deficit between gold supply vs. demand. If the C.B.s are left out, the price would surely explode. Problem is, the C.B.s have a very large horde, and able to supply the demand for decades to come without any replenishment from mining. So, the leasing of gold is the single factor depressing its price, in my opinion. Gold bugs must bet that this practice will diminish or cease, to have any chance of a rise in the POG. The only other scenario would be a world-wide financial breakdown. Phil

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