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

To: Enigma who wrote (55560)	6/30/2000 10:17:45 AM
From: Ken Benes	Respond to of 116759

Any gold entering the market above and beyond what is produced is going to effect price, which has been the case. What has been the truly unfortunate part of the gold lending program, much of the loaned gold has been collateralized by the inground gold held by the producers. Without the cooperation of the producers, the central banks would have had a much more difficult time unloading their gold. It has been an ideal situation for the cb's, they have been able to sell gold whether for economic or political reason and still show the gold on their balance sheet. For the producers, the gold loan program has crippled their industry with oversupply, leaving them in a marginal situation.