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Gold/Mining/Energy : Mongolia Gold Resources -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (3623)	6/10/1999 6:52:00 AM
From: Phil Jones	Read Replies (1) \| Respond to of 4066

Doug, it looks as if all the world's central banks are ready to sell their gold for whatever price they can get. US$100/ounce? Gold is now just another commodity -- no better than silver or copper. The big question is: how long will it take the world's central banks to dump their 35,000 tonnes at a price in the US$100/ounce range! They seem intent on dumping it -- even if it has to be given away. Junior gold stocks are dead in the water until perhaps 20,000 tonnes of gold have been sold by the central banks. How many years could that take? Perhaps not long if they're willing to accept US$100/ounce? The happy side is that US$100/ounce will force many of the world's gold mines to close, and when the tide does turn it will come in with a tidal wave.