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To: Crimson Ghost who wrote (93506)8/11/2001 3:12:56 PM
From: Tommaso  Read Replies (1) | Respond to of 95453
 
Well, I meant that the price can't rise a great deal because it is so easy now to bring more gold into production, and once produced, it stays on the market, unlike hydrocarbons, which are consumed.

Some of the mines thathave shut down, such as the deep Homestake mine, just can't produce gold at the present prices. The heap-leachers have driven them out of business.

The forward sales you speak of guarantee an oversupply, it seems to me.



To: Crimson Ghost who wrote (93506)8/11/2001 3:38:03 PM
From: isopatch  Respond to of 95453
 
George. Good post. Tommaso is incorrect.

Did you notice the COT's yesterday? Very little change.

Then after the Tuesday reporting deadline? Gold rallies strongly. And have seen it enough times in previous weeks, that we may have a pattern.

Next Fridays COTs should again be bullish.

Isopatch


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