Forum Archive Index - February 2002

["Desmond McDonnell" <desmondo@labyrinth.net.au>]

Very few investors own gold. That is why suddenly they are panicking. 
Call it obsession if you like. I would say they are runing to catch a train 
that is moving out on them.

Gold production has been falling recently, the price steadily rising 
(A$480 to $560 in the last twelve months).

Gold shares on absolutely on fire. You can't argue with the tape, mate. 
Are not the suckers those staying on the sidelines?

So why is gold going up? I'll leave that to the historians. I think it is 
something to to do with Enron and where that leads. For your info, here 
is one paper that suggests there is more to it:

gold-eagle.com/editorials_02/hathaway012502.html

Can you tell me the name of an honest NZ broker who knows about NZ 
gold mines?

Hugh Webber said: "As for gold, everyone is obsessed by it somehow. 
Its irrational. Here we have every government in the world demonetising 
and progressively selling their gold pile, the industrial use of gold being 
less than the supply and the production of Au increasing and you guys 
are piling into gold. Maybe the Indians will get scared enough by the 
international situation to keep buying it and hiding it under their beds."

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