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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (34944)	6/7/1999 7:41:00 PM
From: Investor-ex!	Read Replies (1) \| Respond to of 116763

Hutch, Irreleveant if they can't afford to buy, securely store, and profit from this ultimate storehouse of wealth. I'm sure many need to eat? These nations do use gold for savings, those that can save and haven't been raided by the IMF. The point was that those spreading the anti-gold doctrine are in the minority. Gold has been going down for a lot longer then 3-4 years. You're just valueing [sic] your ultimate storehouse of wealth in one currency. So you are decreeing the USD has a store of value relative to, or equal with GOLD. In 1991 gold was worth 180 pounds per once, then shot up to over 260 between 92-96, now it's just finally getting back to 170 pounds/Oz. that a 44% rise, during the same time USA priced gold rose 23%... But since 1996 gold has fallen 32.5% in USD terms and 34.6% in British terms.. A first hand conclusion is: Gold has lost it's volatility &/or it's hedging premium. I'm valuing gold in both American & European terms. The last legs down in tandem with the gold-carry has occurred the last 3-4 years. That's why, rather than your allusion to 1 lone European selling gold for 18 years (which I don't think is quite the right analogy in terms of the group of 100), I see 10/100 or so in the US and Europe not actually selling physical gold in any great way but shorting it via assorted lend/lease agreements.