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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: Richnorth who wrote (155)	11/22/1997 10:19:00 PM
From: Mark Adams	Respond to of 1756

If every Central Bank sold every ounce they had, the price of gold would not go to zero. So worse case, the holder of metal would loose some money. What worries me, is I bought off on the idea that low cost producers were a better bet than the metal itself, as they generated earnings, whereas gold just sort of sits there, aging gracefully :). If the price were to drop to 150/oz, my stock holdings would likely be worthless. The Economist article does state that the views expressed were not those of the FED but offered for the sake of discussion. And despite my holdings, I have to agree that tearing up the environment to get more of it just to bury it somewhere else does lack a certain amount of sense from the larger perspective.