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

To: goldsheet who wrote (70547)	5/28/2001 2:16:22 PM
From: E. Charters	Respond to of 116768

On the other hand supply is long term fixed due to mine development times so if price drops and demand surges price rises so everything should stay constant at all times. Are you supply side or demand side? Does demand drive price or price drive demand? Or do they each drive the other and us crazy? Gold demand is how the BOE fixes the price of gold rather artificially with little flags on an oak table and counting the buy flags vs the sell flags. It's all rather cynical with relatively few clubby ounces making the other 95% of the world's traded ounce price. It is not as if they had some bullpit with people shouting and trading against each other. It's a fix, plain and simple and they call it that. This is done to achieve trading advantage from producers. It'sa racket. When they loan gold to friends to sell and they foreclose when the gold is not delivered, the buy back price by the borrower is never recorded as a buy, but a sale-to-be! It's already sold.. If it were a producer user general market not a COMEX fix or a BOE fix the price would be different. Where it would float I am not sure. But if it was not for those held open shorts I am sure it would be a tad higher for several classical reasons. One the M1 is high in real terms, oil is high, and three the market it low. EC<:-}