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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (94085)1/16/2002 1:32:49 PM
From: Knighty Tin  Respond to of 132070
 
ILD, It used to sell at a premium because the public was hot for golds and there wasn't much availability of South African shares to the general public. The North American cos. existed, but most were held in low regard, sort of like non-OPEC oil producers. And they've always looked pricey vs. South African cos. You also got diamonds and platinum in the bargain, which were nearly impossible to buy otherwise. There weren't a lot of people trading on foreign exchanges back in those days of carrier pigeons and tom toms. <g>



To: ild who wrote (94085)1/16/2002 1:37:17 PM
From: Knighty Tin  Read Replies (2) | Respond to of 132070
 
Ilya, The worst discounts I've ever seen on ASA have been in the past 5 years or so, since gold became totally worthless as a long term holding. <g> However, even in the past 10 years, which were bad for ASA's discount, it has averaged less than 3%.

How bad can it get? 26% would be my best guess. And I think that happens in a new cycle. This one seems to have bottomed for the discount.


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