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

To: Ken Benes who wrote (49638)	2/25/2000 6:24:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116785

I guess you have your standard spiel saved in some file or other. So you can keep churning it out? Stock options are useless unless the shares go up in price! Barrick pays a dividend. New mines in Africa stand alone regardless of Ashanti. There is such a thing as demand,the world economy is expanding.

To: Ken Benes who wrote (49638)	2/25/2000 8:06:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 116785

Ken: The gold industry is not as monolithic as you imply. There are goods guys in addition to bad guys like ABX. Do not tar them all with same brush. As indicated earlier I am all in favor of gold miners cutting output significantly. But do not have any illusions that the impact of such cuts on POG will be anything like OPEC's cuts on POO. Oil is a vital commodity with a very inelastic demand curve. The demand for gold is much more elastic than oil with regard to price. Also total mine output is only a small percent of the word's gold stockpiles. But cuts in mine output might be sufficient to make $300 a solid floor -- all else being equal. That alone would have no mean impact on gold stock prices. A solid gold bull requires a big rise in INVESTMENT demand. That probably will develop once US financial assets enter a sustained bear market widely recognized as such. Seems very close now.