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

To: re3 who wrote (90134)	9/28/2002 9:58:15 AM
From: IngotWeTrust	Read Replies (3) \| Respond to of 116816

Retired: got just a sec to hit response button... RE your Query wrt Argentina... just which buffeted Argentineans would you suggest would be eyeballing [stashing?] gold With inflation and low per capita...doesn't leave much for individual hoarding wouldn't you agree? Truly battered economies shift to barter such as the Russians have perfected since the ColdWar broke them. I recall a major newspaper article several years back on this thread where one of the Ruskie Police Departments paid their employees in socks. Yes, SOCKS. Their paymaster was able to take delivery of a production run of socks through a series of exchanges, so that they could be distributed to the police personnel who hadn't been paid in months. At least, the logic went...the officers could use them as a medium of exchange in the local open-air market to try to re-coup losses. [ RICHARD, was that you or LORNE or ALEX who posted that article originally?] BTW...do you already have AEM, Meridian and NEM just to name 3 in your 19 some odd names precious metals stable? Nope, I don't own them...just was wondering<grin> Have a good one. g_t

To: re3 who wrote (90134)	9/28/2002 11:10:33 AM
From: goldsheet	Read Replies (1) \| Respond to of 116816

Unstable economic/currency situations can be both positive and negative for gold. In some cases, it will cause concerned investors to buy gold as a safe haven, as we have seen in Japan this year. Putting things in context, if Japan continues at the current 6 month demand rate they will demand about 180mt in 2002 vs. 113.9mt in 2001, up 66.1mt. Meanwhile, if India continues as its current rate 2002 will be 480mt vs. 726.7mt in 2001, down 246.7mt. It's just a math thing, one needs huge gains in small markets to compensate for the drops in Indian market. Argentina is probably a relativley samll gold market, numbers not founf in WGC data table. I would count much more on miners demand to cover hedges than investor demand to keep gold $320 for the rest of 2002. REF: gold.org In other cases, once a serious collapse has occurred those who had invested in gold may sell. Following the Asian currency collapse supply from gold scrap went from its usual average 600mt rate to 1098mt in 1998. It;s great ot have some gold when your currency collapses, but when things get really bad you have to sell some of your gold hoard or start melting jewelry to get stuff like food. blacktusk.commerce.ubc.ca