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

To: Square_Dealings who wrote (63895)	2/17/2001 12:22:21 AM
From: Crimson Ghost	Read Replies (2) \| Respond to of 116764

By inventory, I think he means net CB holdings. His underlying assumption is that the CBs will ultimatey dump all their bullion and will get very aggressive on any decent rally.

To: Square_Dealings who wrote (63895)	2/17/2001 10:37:11 AM
From: russwinter	Respond to of 116764

Zeev's argument about "inventory" is ludicrous. By inventory I assume he means all the gold (130,000 tons)above ground since time immemorial? Does he think all that "inventory" is like some chip maker with too many last generation products on the shelf? "Inventory" is a completely misleading term for this. Gold stock is more correct, and to say it's coming to market to be sold is plain nuts. Most holders of gold aren't traders. It's used for art, jewelry, hard currency, monetary reserve, teeth fillings, artifacts, industrial uses, the list goes on. Is King Tut's mask going to be liquidated as "inventory"? These items are no more likely to be liquidated as inventory than would all the current stock of houses in the world. The actual gold float is really tiny, estimated to be $150-200 billion, less than the market capitalization of many equities. Zeev's got it backwards: there are too many dollars in circulation (inventory), not gold. And as you pointed out in your post, too much gold has already been sold out of thin air. On that last point see: Message 15367795