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

To: Machaon who wrote (63527)	2/7/2001 11:21:51 PM
From: Square_Dealings	Respond to of 116795

Robert, I suspect that the price of gold has been driven dangerously low by the manipulators that have been using the gold carry trade as a source of free (1 %) money. Anything that would disrupt supply at this point on a wide scale would completely wipe out the shorts because they depend on supply from the mines and the central bank dumping to keep the prices low. I think several things are coming together which could cause such a disruption, like a miners strike in SA or simply closing down the mines as many of the companies are steadily doing. They can always open them back up when the prices come back up. I'm looking at it as money in the ground, the gold mining companies are like buying a really nice piece of real estate at these prices. M.

To: Machaon who wrote (63527)	2/7/2001 11:56:11 PM
From: goldsheet	Read Replies (1) \| Respond to of 116795

<Could this drop in production be perceived as causing a future shortage of gold, especially if other gold companies also decide to reduce output? > The Newmont drop only appears to be a drop because of the one-time extra fourth quarter production. They will produce 5.4moz in 2001, which is still much higher than the 4.95moz produced back in 1999. Other gold companies are increasing production. Homestake said they would produce 2.3moz in 2001 vs. 2.2 in 2000, and Anglogold plans 7.1 versus 6.9 I continue to track the production numbers and the cuts are few and not significant (yet)