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Gold/Mining/Energy : Gold Price Monitor
GDXJ 143.83-4.4%4:00 PM EST
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To: John Hunt who wrote (30241)3/17/1999 1:49:00 PM
From: long-gone  Read Replies (2) of 116931
 
That's right John, only 5-10 million oz.

Now, we look at the demand numbers from the World Gold Council, we find that the demand for 1998 was 2712 tonnes which was down(Due to problems in Asia) 11% from the prior year. By the 4th quarter Asain demand was returning.
That would be ONLY 311.0323162577 Tonnes!
OK, given tat a "normal year would be a demand of 3010.32 tonnes
that gives us an average monthly demand of 250.86 tonnes.
Looking at that another way, the PROPOSED sale would be only a little more than one months supply.
It should also be noted that this sale COULD ONLY TAKE PLACE WITH FULL APPROVAL OF CONGRESS AND THE SENATE!!!!!!
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