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

To: Don Green who wrote (834)	12/22/1997 8:30:00 PM
From: LesX	Read Replies (1) \| Respond to of 1756

Let's face it, noone knows or can even guess where gold is heading. I DO know gold stocks are at big time lows in comparison to recent history. I also know that mining companies are desperately trying to get their production costs down. Assuming gold rallies, these low priced gold stocks with lower production costs will also rally in proportion to the delta between gold and their new costs. It doesn't take a rocket scientist to figure out that you might as well put a few poker chips on these stocks just as the company insiders are doing. Besides in this questionable environment what else is there?

To: Don Green who wrote (834)	12/22/1997 10:07:00 PM
From: Richnorth	Read Replies (1) \| Respond to of 1756

There is an oft repeated saying: "A man convinced against his will is of the same opinion still." Most threaders on Gold-Xau fervently believe gold will make a comeback in the next little while or after it has visited the $250-$195 levels. The very fact that gold has been trending downwards for the past 12-15 years does not faze them. At times, it does seem to me that the goldbugs are not unlike religious zealots who believe they will ultimately be rewarded for their faith. However, their belief is based partly on the cyclicality of gold and mainly on their conviction that CBs (and yes, shorters as well) will not succeed in driving the POG down forever. To them the low POGs we have been seeing is 'engineered' and is therefore an unnatural phenomena which flies in the face of fundamentals. Sooner or later (hopefully sooner than later), something (e.g. deflation, inflation, Y2K problem, natural upheavels or war or whatever else) will trigger the resurgence in gold and gold-related investments and gold mining stocks. Despite the fact that gold has been trending downwards, a number of investors/speculators were able to make money during the past decade or so. They were the lucky ones or the nimble ones who took advantage of price spikes etc. You have been trying to convince the goldbugs to move on to more promising investments and the goldbugs, in turn, have been trying to tell/explain/convince you regarding their rationale for staying invested in the yellow metal etc. As it turns out, neither party has succeeded in convincing the other-----a classic example of "A man convinced against his will is of the same opinion still." And it is entirely possible that either party may end up telling the other, "'Tis better to be thought a fool than to leave no doubt...." But I hope it won't come to that. You will of course agree that all forms of investments have elements of risk associated with them. Less than a month ago, the hi-tech stocks on Nasdaq looked so safe and promising, yet in the last little while their sudden and unexpected volatility have turned winners into losers. And needless to say, many an investor have lost money, and some lost it BIGTIME! Mind you, not all of the links posted to you were highly biased in favour of gold. I distinctly recall posting a link to you entitled, "Precious Metals: Death of Gold" which evoked a "Praise the Lord" and a "Hallelujah" from you. Regards, Richnorth