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

To: Crimson Ghost who wrote (42581)10/10/1999 11:44:00 AM
From: goldsheet  Read Replies (2) | Respond to of 116779
 
> The ECB committiment to limit gold sales is not what made
> the gold market take off. Rather it was their committment
> to limit LEASING -- the real reason for the huge 1996-
> 1999 gold bear.

I think the 20% increase in primary mine production during that timeframe along with the 1094mt of Asian scrap in 1998 were more significant factors than leasing.

Take away the "aberrations" - leasing, scrap, and CB sales and we still have a greatly different mining industry than 4 years ago with an equilibrium price more likely at $325-350 than $400.



To: Crimson Ghost who wrote (42581)10/10/1999 11:57:00 AM
From: long-gone  Respond to of 116779
 
<<The ECB committiment to limit gold sales is not what made the gold market take off. Rather it was their committment to limit LEASING -- the real reason for the huge 1996-1999 gold bear.>>

I STRONGLY agree(!), though must note, due to lease rate expansion, market had already imposed a "limit" of sorts on the zero gain leases of prior times.

rh


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