Gold Price Monitor Message Board

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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

4:00 PM EST

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To: long-gone who wrote (34119)	5/18/1999 9:46:00 PM
From: Ken Benes	Read Replies (4) of 116815

Richard: How refreshing that the attention of this board has finally focused on what is having the most profound effect on the price of gold. Too much time has been spent speculating about what will be the catalyst to spark a gold rally. There can be no rally as long as the miners represent the goals of the central bankers rather than the interest of the shareholders. The answer is simple, close out the hedged positions, cut back on production, and force the central banks to cover the deficits with their reserves. By doing this the banks will remove the gold from their balance sheets putting a lot of additional pressure on their respective currencies. Minus the gold, most nations have a lot of liabilities and very little in assests other than paper instruments back by debt. The result, gold would not stay below 300.00 very long. Ken

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