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

To: John Hunt who wrote (33856)	5/14/1999 7:30:00 AM
From: Zardoz	Read Replies (2) \| Respond to of 116782

"Yet the supply /demand numbers are estimated at 4000 tonnes on the demand side and 2600 tonnes on the supply side per annum. -- cont'd -- >>" And yet gold goes down.... WHY? "The entire worlds known above ground gold reserves are traded two and one half times per year (????)" And yet we have seen interent stocks trade 2-3 times the total outstanding in a single day. So MAYBE, just maybe; the POG is still over valued, much as the internet stocks are alleged. This would also help to explain both the CB's desire to sell, and the overwhelming demand from gold bulls. But does a demand which doesn't push the price up, actually mean that it's a real demand? No-one would want to sell anything for less then what they can get. {except in movies like Brewster's Millions} cyberkids.com So Maybe, just maybe; those that are stating Demand, and supply number are adding in a bias. When they say: "Yet the supply /demand numbers are estimated at 4000 tonnes on the demand side and 2600 tonnes on the supply side per annum." Yet the World Gold Council says: "Demand in these markets for the full-year 1998 totalled 2,712 tonnes, 11% below the all-time record set in 1997." gold.org This is FAR from the 4000 Tonnes value? So are gold-eagle.com saying that the total supply {2600 tonnes} is from production? Are they taking into account sales from institutions? Sales from secondary sources? It's been stated that China has been interested in buying GOLD as of late, and I have little doubts that they are. But if you view their desires to devalue the Renmimbi, then it would be in their best self intersts to buy gold. And further to that it would also be in USA best interest to ask them NOT to buy gold, in hopes that they will not devalue. When next you read about Japans' interest in buying gold, view it in a cynical way as a desire to devalue. Was the YEN not at 120 going to 135 when they stated that desire. And was it not Rubin, Lawerence, and Greenspan that talked them out of devalueing. Since then where have their gold purchase desires been?