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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2980)	2/24/1999 7:41:00 PM
From: C Bunka	Read Replies (2) \| Respond to of 3282

RE: Gold Stockpiles Here are the most accurate numbers I have as of Jan 01, 1998: 130,163 (4.19 billion ozs.) tonnes of gold ever produced (90% mined this century). Here is where it is as of Jan 01, 1998: 54,132 tonnes in gold jewelry 33,860 tonnes in Official Reserves 28,479 tonnes in private investments (coins, hoarding, etc.) 13,692 tonnes in industry, dental, lost Everybody worries about Central banks, but their net selling accounts for only 2,278 tonnes in the three years ending Jan 01, 1998. That's about as much gold as India "consumes".

To: Claude Cormier who wrote (2980)	2/24/1999 11:15:00 PM
From: Elizabeth Andrews	Read Replies (1) \| Respond to of 3282

That's probably true. The old USA has to get on a monetary growth trip when noone wants to hold as many dollars as they do or as they are creating. Bingo. Gold will move. The current account deficit should ultimately make this happen. Remember De Gaulle? I'm still not bullish on gold as the real short term interest rates still seem too high. But maybe they are anticipating something. ABX and PDG don't look good technically. But maybe that's just a mangament issue as some of their recent acquisitions are question value in my view, especially at these prices.