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

To: d:oug who wrote (50569)	3/20/2000 3:39:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 116815

The problem with the whole debate about manipulation of the gold price is that it is really a debate about whether gold is a commodity or a currency. If gold is strictly a commodity then it will trade on supply and demand and there are a few huge warehouses full of surplus gold. If it is a currency then it will be manipulated and many parties will buy and sell in relation to factors affecting every other currency in the world. And in fact it is both so it is subject to supply and consumption and it is also subject to the goals of every central bank and all the speculators in the world. Those who desire the central banks to hold gold as a currency must also accept the political implications of attempts to stabalize the price in relation ot other currencies. Those who want gold to be treated strictly as a commodity must then accept the prospect of the central banks selling their reserves.