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To: long-gone who wrote (73311)7/12/2001 10:37:00 AM
From: Zardoz  Read Replies (2) | Respond to of 116753
 
"The Bank of England Bought gold in the spot market to fill their allotment, and thus artificially inflated and mantained the gold price at $265. Now that it's sold it should fall"

Remember the good old days when the XAU was 120+ and you could short it with out need to worry about covering?



To: long-gone who wrote (73311)7/12/2001 10:56:44 AM
From: Ken Benes  Respond to of 116753
 
First: If you are going to listen to the WGC for information, you will continue to write posts asking for someone to explain the situation to you.

Second: I do not follow your math nor your hypothesis, which may explain why the markets move inversely to your expectation.

Ken



To: long-gone who wrote (73311)7/12/2001 2:18:33 PM
From: goldsheet  Read Replies (1) | Respond to of 116753
 
> That is 13.86 MILLION ounces(431.09 tonnes) of annual gold production removed!

Bad math alert: You can not just add up AU/GOLD/HGMCY because they have mines outside RSA.
Biggest ones are AU mines in North America acquired in the Minroco deal (Cripple Creek and Jerritt Canyon)

Anyway, you got lucky and came close - RSA produced 428mt in 2000.