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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Bill Murphy who wrote (3829)3/2/1999 10:34:00 PM
From: Hawkmoon  Read Replies (1) of 81024
 
Bill,

I have to ask about the news reported in the Financial Times today about how production costs for gold have been reduced by some 17% over the past resulting in even more forward selling by mining companies hoping to lock in profits at these levels.

Does the operational cost of mining and refining gold equate to its intrinsic value and rarity? I believe the actual cost for production was averaged at approx $195 to 210 per ounce.

Regards,

Ron
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