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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.70-0.3%Dec 5 4:00 PM EST
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To: Zardoz who wrote (30714)3/26/1999 3:53:00 PM
From: teevee  Read Replies (1) of 116796
 
Hutch,
It's blatantly obvious that the POG is being held up artificially high...In times of economic hardship(outside the USA) and war, gold held as "insurance" is sold to generate needed cash for things like food and bullets....the G-7 central banks should let the market take the price to where it belongs and that is probably somewhere between $200 and $220 and ounce or lower......the price won't recover until the world economy recovers and AIDES decimates the labor force in the South Africa, forcing the gold mines there to close (about two years away).
regards,
teevee
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