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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: lorne who wrote (28837)	2/23/1999 1:53:00 PM
From: John Hunt	Read Replies (1) of 116845

The Great Mysteries - Part 1 Professor von Braun Of The Rocket School of Economics << At that time the LBME was trading 35,000,000 ounces of gold per day. Which is in excess of 1100 tonnes per day. Since that time the figures have lessened to a slightly smaller number. But 1100 tonnes per day ? Known worldwide demand is believed to be 4000 tonnes per annum and yet a quarter of that amount is traded every business day ? Estimates of total above ground gold (all gold in existence) are about 125,000 tonnes. The LBME trades this amount twice a year ? Impressive I would say. Very impressive. Perhaps too impressive. >> fiendbear.com Hi Lorne, The Gold Forum post wasn't mine, although I agree with it. Over there, I occasionally post as 'Snowman' ... Really original for someone living in the land of snow, eh. < g > John

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