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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Ray Hughes who wrote (1250)	6/24/1998 7:58:00 PM
From: Bill Murphy	Read Replies (3) \| Respond to of 1911

In about two weeks our 1998 Gold Book Annual will be published and Frank Veneroso goes into great detail about this subject. Our exhaustive work tells us that we run out in 10 years, not 20, and we will not get close to that happening. Gold would then go to over $1500 per ounce as that even started to occur. For what it is worth, several central banks have already ordered the book. Bill

To: Ray Hughes who wrote (1250)	6/25/1998 6:38:00 AM
From: Francis R. Biscan Jr.	Read Replies (1) \| Respond to of 1911

Hi Ray, I have thoroughly enjoyed reading your posts here for quite some time. I to, share many of your opinions. >>Unfortunately the CBs have about 20 years equivalent of the gold deficit - they can feed this market for a long time.<< This is very true. I also think that they watch the size of this deficit and attempt to manage it. If gold goes to low, this deficit could jump substantially and reduce the managability of golds price. I believe that they know where they want golds price, for the most part, and will let it drift higher in times of calm, but trip it up when a crisis arises. Rich