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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (48324)	7/21/1999 11:37:00 PM
From: Wowzer	Read Replies (1) \| Respond to of 95453

OT Gold, <<Gold exploration has indeed dried up and many mines are closing. It is estimated that nearly half the world's gold mines are unprofitable at current prices. Does this not sound familiar?>> The only problem with that scenario is that people don't use gold, they horde it. Thus supply is continually building i.e. I still have my gold coin, but have used up a hell of a lot of gas in the same time frame. There just is very little economic use for gold other then in some electronics. It is just a pretty metal that is perceived to have value. The dollar has replaced gold as the currency of choice or as the "risk free asset". The only way gold will ever see significant appreciation IMO is if the US economy gets blown into the stone age and if that happens game over don't want to play anymore anyway. JMO Rory

To: Crimson Ghost who wrote (48324)	7/22/1999 8:01:00 AM
From: Fun-da-Mental#1	Read Replies (2) \| Respond to of 95453

Sorry for OT posts but I like the intelligent analysis here. So many other threads are dead or full of fanatics, and I can't even find a good discussion of the direction of the overall market. I guess what we need is a sector analysis thread where we can compare the pros and cons of oil, gold, steel, pet foods, whatever. Is there one like that or should we start a new one? George, you write "It is estimated that nearly half the world's gold mines are unprofitable at current prices." The incredible thing is that means half the world's gold mines ARE still profitable at current prices. Think of the profits if the price goes up. Harold S., thanks for the tip on steel. Fun-da-Mental