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

To: pete meyer who wrote (34605)	5/28/1999 9:10:00 AM
From: The Ox	Read Replies (1) \| Respond to of 116779

A fundamental shift in the world bullion market over the past 18 months had ended gold's role as an alternative to currencies, Macquarie Bank bullion dealer John Israel said. I'm going to print this out and save it. One of these days, I'll send it back to Mr. Israel. Like, right after the next big market crash! pete, I agree that this is very similar to the oil market of a few months ago but I don't think gold producers are a cohesive unit like OPEC and non-OPEC producers. If they were, they'd start reducing production and forcing the world to recognize the imbalance in the supply/demand equation. Unfortunately, I believe, like many on this forum have stated, that too many producers are more concerned with the short term implications of production and have lost sight of the big picture. Isn't it a little funny that the US isn't in any hurry to sell their gold stocks? Hmmmm.... JMO, Michael