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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: bill who wrote (32617)	4/27/1999 1:34:00 PM
From: long-gone	Read Replies (2) of 116758

Welcome. Cost of "dues" for joining the gold bugs club buy & hold at least 1 part of one oz gold and shares of a miner. Bill Murphy From Gold Anti-Trust Action(GATA) Committee testify before Congressional Banking into the manipulation lower (by at this point unknown sources) of the price of gold. Demand is high for gold and growing daily. Demand for silver is growing faster than the demand for gold(and faster than supply) due to coming automotive uses. Production of both commodities is represented by members of the XAU. It has been widely reported(from educated guesses) that the short position for gold may currently be in excess of 3000 oz., while it is a fact of history the demand last year out stripped mine production. Also, several mining companies (members of the XAU) reported earnings for the quarter that were far greater than estimates(and not widely reported by the broad news media). Yes, there are mining companies that can make a profit in spite of these lowest of all time gold prices. There is an ongoing consolidation in the industry (also not widely reported) and there have been widespread failures of (lesser?) precious metals mining and exploration companies. Some mining companies which are just hanging on have suspended or reduced future exploration efforts. Future supply could be adversly affected. The President just ordered 30,000 soldiers & airmen from reserve to active status. Inflation often follows any widespread active duty deployment of US forces. Many going active duty in a war zone often carry an oz or 3 of gold in hip pocket "just in case". US dollar may not be assured of buying power everywhere like gold.

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