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

To: yard_man who wrote (70774)	5/30/2001 2:37:02 PM
From: ahhaha	Read Replies (2) \| Respond to of 116786

Gold companies can't afford to mine at the current POG, so they sell what they might be able to afford to mine at a higher price in the future. In order to do this they have to get gold to sell at cheap rates and they have to find a big enough source willing to do that. The companies are robbing Peter to pay Paul and gambling on a future that might not arrive, but what else can they do to survive? It's a wild gamble, but they have nothing to lose. The CBs, on the other hand, are sitting on this pile of commodity metal. Why are they doing that? Because they can't trust other governments. But they don't need a pile that large to manage their own distrust. Any nation on earth could easily buy all the gold in existence if the marginal ounce was priced at the first ounce. Nations have financial power now that transcends gold.