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

To: Alex who wrote (53197)	5/24/2000 11:54:00 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116972

Alex and interesting point can be made from that article. Yesterday the world gold council indicated that investment demand for gold has declined this year, while demand for jewelry is up. Bottom line, total demand for gold is up slightly. If we get the recession that some are predicting there are some givens that are going to effect the gold market. First, you could expect demand for jewelry to decline. Second, investment demand may continue to decline as investors suffer losses in equities reducing the liquidity needed to buy gold. Third, this scenario will occur at a time when the production of gold will expand substantially, particularly from barrick and the australians. I do not expect any meaningful appreciation in the pog for some time. There is enough impending increases in production and over 8000 ounces of cb gold available to squash the price. This does not take into account the paper gold that could be created by the hannibals. Not a bright future for the yellow metal. Ken