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To: re3 who wrote (28141)	4/22/2000 10:53:00 AM
From: Glenn D. Rudolph	Respond to of 42523

Glenn, perhaps you could tell us how and if the demand for gold jewellery increased when gold moonshot in the late 70's and early 80's...i know of a guy who insisted on getting the morning off work to run downtown and buy silver at 38 bucks an ounce...20 yrs later i met up with his wife who insisted on buying a nasdaq fund, when the nas was at 5k... Ike, The demand increase was huge. At that time, gold was considered a safe haven against inflation which was very high at the time. In addition, many retail buyers bought gold jewelry as their "investment" which once one takes the labor to manufacture and profit margins into account the concept was nuts. The public I believe was alot less educated in general then and the disemination of information was far slower. I believe one might classify that panic buying as a mania which in my opinion, is unlikely to occur with gold again. Gold seems to have lost its hedge against inflation status and more people understand the Feds role int his country in handling inflation. Glenn