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

To: Ken Benes who wrote (40094)	9/7/1999 8:37:00 AM
From: Enigma	Respond to of 116791

The problem here, as in all of this discussion, is that nobody seems to have a clue about the dynamics of the gold market eg: How much gold is going into coins just now? In the old days it was relatively simple - we had mine production, scrap sales when the price rose, countered by fabrication, investment, and industrial use. One could ignore CB sales and purchases more or less - and I think (in spite of all the rhetoric) that this is still the case - except, and this is important, for the perception it creates. The new elements are gold leasing and the derivitive trade - and I've seen nothing that gives one a remote handle as to how this plays in the big picture - or what factors will cause this apparent source of supply to dry up, and cause a major reversal. Gold leasing to producers can't be the problem - it must be gold leasing to the 'carry trade' which is doing it. Even the higher lease rates don't seem to be halting things. I wish some bright person, with direct experience with a CB for example, would shed some light on the situation. d