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

To: ahhaha who wrote (12950)	6/12/1998 12:52:00 AM
From: Lalit Jain	Read Replies (1) \| Respond to of 116795

ahhaha, From the Financial Post Magazine, April/98. It has been estimated that from Egyptian times until the mid-19th century, world gold production totaled approximately 325 million troy ounces. Since then, gold producers have added about 3 billion troy ounces to the horde. WHO'S GOT THE GOLD Approximately 100, 000 tonnes of gold exist in the world today. Of this amount, approximately one-third is held in central banks as reserve assets. As the following list indicates, some countries are gold haves, while others, by fate or by design, are have-nots. Amount of gold (Million troy ozs.) USA - 261.7 Germany - 95.2 Switzerland - 83.3 France - 81.9 Italy - 66.7 Japan - 24.2 UK - 18.4 India - 12.8 China - 12.7 Russia - 12.7 Canada - 3.1 Australia - 2.5 (As of May, 1997. Source: International Financial Statistics) From the Financial Post Magazine, April/98 Regards, Lalit Jain

To: ahhaha who wrote (12950)	6/12/1998 10:37:00 PM
From: Greg Ford	Read Replies (1) \| Respond to of 116795

Central Banks are causing negative sentiment in the gold market providing speculators the opportunity to push the price of gold lower. The last few days declines can all be attributed to funds selling gold. Producers can also have a profound short-term impact on the gold price by forward selling gold thereby contributing to more gold liquidity. In the long run inflation, value of the dollar, and demand are the key variables. The fundamentals for gold are not bad now; ie demand exceeds mine supply; but it the sentiment and short-selling which is hurting the market. Greg