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

To: pater tenebrarum who wrote (56457)	7/19/2000 10:00:25 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116857

And this is happening on a day that the trade deficit made a new high. I wonder if the mining companies have even noticed the decline in their quest to rush new production to market. Ken

To: pater tenebrarum who wrote (56457)	7/19/2000 10:01:36 AM
From: Rarebird	Read Replies (1) \| Respond to of 116857

Heinz, I don't think I'd go that far to say that the POG "is in free fall." The commercials have been short and the dollar has been rising. There really should be no surprise here. The more interesting question is where will support come in. With the exception of NEM, which is grossly overvalued and appears to be heading to longer term support at around the $16.75 area, other gold stocks like PDG and ABX have held up quite well thus far.

To: pater tenebrarum who wrote (56457)	7/19/2000 1:10:16 PM
From: Phil Jones	Read Replies (2) \| Respond to of 116857

I agree with your "GOLD R.I.P.", heinz. Gold had its day. It helped the world through many crises while an accepted world monetary unit (U.S. dollar) was being established. But its day is over. Perhaps one day, if the world moves backwards toward monetary anarchy, gold will be called on again. But I can't see it happening in our lifetimes. So it'll just move on supply-and-demand - like other precious metals, bobbing its head above US$300 every so often - but mostly remaining below. And right now there's obviously a huge oversupply. Gold, you've been a wonderful helper in the quest for stability. You've carried a heavy load. But now it's time to lay down that load and take a well-earned rest. Rest In Peace.