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

To: d:oug who wrote (42340)	10/7/1999 7:33:00 AM
From: Bill Jackson	Read Replies (1) \| Respond to of 116764

Doug, I think that the feds engineered the gradual increase in lease rates to start a slow chill on the gold leases. Since they are scattered forward in time over a long period I feel they will let it unfold as it is doing now. An increase in price loosens up enough gold to satisfy the usual shorts. That same increase in price makes more production restart/come-on line and come from scrap sources. Remember there are huge amounts of gold tied up in older copper transmission lines from the days when they did not purify the copper very well because gold was $35 or so. If gold goes up to $350-400 then the electrorefiners will fine tune their recovery from copper scrap to increase that gold. Same with jewellery and circuit board gold. So a bump up in price generates some relief as people take their profits and the short take their wounds. There is a time lag in restarting a mine so it is not like turning on a faucet. MGR 20:1 reverse, sad, sad. By the way, better get ready for the Y3K problem now Bill