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

To: goldsheet who wrote (57264)	8/13/2000 2:56:20 PM
From: Crimson Ghost	Read Replies (3) \| Respond to of 116944

Under the capitalist system firms are in business to make money. If gold goes down to the average cost of production (much less below it), much of the world mining industry will shut down. With gold stocks exceedingly depressed at POG $270 -- a drop to $235 would send many miners over the edge and cause many others to sharply curtail production. Even an industry as poorly managed asa this one will not forever produce gold at little or no profit to its shareholders just so the bullion banks can continue raking in enormous returns.