Letters to the Editor Supply & demand rules gold price

In a letter to the editor (N.M., July 4), one of your readers attributed the depressed price of gold to market interference by various governments. I don’t doubt that such action takes place, but feel that the law of supply and demand is still the principal factor.

First, in the very same issue, The Northern Miner stated that the average producer cost of Canadian mines is about $200 per oz. Second, if only 10% of the sanguine predictions and rosy reports printed in your columns prove out, there will be enough gold produced by the year 2000 to fill one of the Great Lakes. Edward G. Lowell Tarzana, CA