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

To: long-gone who wrote (52377)	5/5/2000 6:30:00 PM
From: russet	Read Replies (2) \| Respond to of 116815

Mr(z)? long-gone,...good grief! Here's the header to the thread, Started By: Abner Hosmer Date: May 27, 1997 9:44 PM The purpose of this thread is very simple: To monitor/analyze those factors affecting the price of gold, long-term, short-term, and in-between, and to determine where we currently stand in relation to those factors. Comments on the rest of the precious metals complex are also encouraged, as is technical analyses. Please do not seek or give recommendations or advice on individual stocks. I hope this thread will prove to be a valuable exchange of information, ideas, and insight. TB Your latest posts may be straying a bit off topic. Lots of people bash everyone in sight to explain why the POG is dropping, ignoring the simple explanation that many people are willing to sell gold at these low prices. The central banks have had gold since it was worth $35. per oz, maybe lower. Why shouldn't they sell it now to lock in that profit. Why pay to store a depreciating asset, when you can sell to buy something that has a better chance of appreciating in the future. You say gold is manipulated now,...I say it used to be manipulated a lot more (when currencies were fixed to it's price, at its price arbitrarily fixed), but now is subject to the laws of commerce,...buyers vs sellers, just like any other stock, bond, commodity and freely floating currency, or whatever we buy and sell. Short-term, the price goes up and down,...long term, the downward trend appears intact. We keep finding more and more of the stuff in the ground,...and it gets cheaper and cheaper to pull it out of the ground. More and more of it accumulates above the ground, making it less and less of a rare thing. We go back and look at mines we thought were mined out, and we find more of it. We look at the tailings pits of old mines, and find new processing techniques can pull more out of what was rejected in the past. New machinery allows us to dig deeper, bigger, faster and cheaper. New exploration techniques find deposits in the ground with no surface exposure. All past mines had surface exposures, that is how they were found. Just think of all the deposits that are hidden beneath the ground, that we can find now given the new geophysical and geochemical techniques that have been developed and enhanced in the last decade. My guess is at least as many as we have found in human history, and probably many more. The U.S. is a very rich nation, perhaps one of the few that can continue to afford to keep a depreciating asset stored away at great cost, just to say they have it. Too bad they don't give it away to help some of the poor unfortunates you talk about, but that is a topic for another thread. As gold is now treated by industrialized countries as just another commodity or stock for the most part (I agree some people have emotional attachment to it, but that is true of many stocks too, emotion clouds judgement), I will include this URL to a interesting picture I stumbled on recently. Have a great weekend. C:\WINDOWS\Temporary Internet Files\Content.IE5\4NYZIBGZ\trading[1].gif