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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

4:00 PM EST

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To: Hawkmoon who wrote (27563)	2/2/1999 1:33:00 PM
From: donald martin	Read Replies (2) of 116791

<<Who is buying all the CB's gold???>> Probably the same people who were buying US stocks in 1982. Quiet contrarians. I remember when I first started learning about gold, I read about how in the short-term it has a negative demand curve. (e.g. lower prices resulted in LOWER demand) That probably gives you some idea what kind of a person is buying gold in a market like we've had the past couple of years. Probably the buyers are very patient, value oriented, and slowly averaging down; not looking to sell for a quick gain when it turns back up. That's just my guess.

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