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

To: Hawkmoon who wrote (36158)	6/29/1999 9:49:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 116893

<<It is difficult to believe that all gold production is going to jewelry fabrication, while we still have gold coin dealers hawking there products wares out there for their normal 5% commission over spot.>> Maybe... but I uynderstand that the coins are coming for gold supplied directly from Fort Knox. <<How much of this gold jewelry is fabricated from recycled scrap gold?? How big is the scrap gold market??>> I made up this page from a recent issue. ormetal.com The number are in "M ounces". The source is Gold Field Minerals. Mine production plus scrap have been below fabrication demand for many years. 1998 was exceptional in the sense that demand fell dramatically due to the Asian Crisis. Add the same time scrap recovery jumped for exactly the same reason.. Normal numbers for scrap recoveries are 10-15 millions ounces a year and 20M per year will gold prices near $400. Expect scrap recovey to be cut in a major way this year and next... Look at the growing deficit ..excluding scrap.