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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (1788)	7/31/2001 2:32:38 PM
From: russwinter	Respond to of 4051

The aspect I'm looking at are actual sales that hit the market, because that's what determines price. A delivery to a pre-sold forward is not a sale. That sale occurred a long time ago. If the producer delivers and then sells forward another contract then that's a fresh sale (or supply). Or if an unhedged producer sells into the spot market that's new supply. Whether it's an apple (production) or an orange (forward sales) the impact is the same, a sales transaction. A simple delivery without a rollover sale, is not the same animal. It shouldn't be that confusing. I'm accurately focused on "actual sales" (both spot sales and new hedge sales). As far as production goes, time and current prices will take care of that, and I anticipate revisiting that issue with you in the not too distant future. Right now the decelerating supply (defined as simple delivery of production to pre-sold contracts, and no rollover) that I am describing here is the main show. BTW, I haven't just concocted the decelerating supply issue, I've mentioned it's likely arrival more than once.