In an interview with financial writer Lars Schall, market analyst David P. Goldman joins those who lately have noted that gold mine production is of little consequence to the gold price because at any particular moment 25 or 30 times amount of gold produced annually is hoarded and available for trade. "So a change in desire to hold gold as an investment," Goldman says, "is a much more important determinant of the gold price than changes in current mining supply or changes in current consumption of jewelry or industrial applications." That's why, Goldman adds, the gold price is the crucial indicator of inflationary expectations -- and why, GATA might add, it is so much the target of central bank manipulation. Goldman's interview is headlined "Gold Gives You Extremely Important Signals" and it's posted at Schall's Internet site here:
http://www.larsschall.com/2013/02/17/gold-giv...y-important-...
