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

To: goldsheet who wrote (51825)	4/22/2000 3:14:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116763

Amen Bob, you could not have said it better. Recently, someone posted an article that for every ounce of gold produced, the above ground stocks increase by that exact amount. Gold is not consummed and those increased amounts have deflated the value of the commodity. Regardless of current supply and demand fundamentals, the above ground store of gold can overwhelm the market at any given time, to wit, the currency crisis and the concommitant disinvestment of gold in Asia. To restore gold value above 300.00, I believe it will take a catastrophic event that will have to shake the world. An investment based on those fundamentals is a high risk endeavor with a very poor return. From this perspective, gold has indeed lost its luster, while the golden opportunities provided by an expanding world economy offers enormous returns. For me, gold still has a sentimental place in my heart, but as an investment, I see absolutely no attraction for the old metal. Ken