* Real month-end Gold Stocks on the Commodity Exchange Inc.(Jan82-Dec88, in troy ounce);

data gold;



 date   gold

--------------------------------------------------------

 jan82 2339542 feb82 2234863 mar82 2198347 apr82 2191251

 may82 2188297 jun82 2048252 jul82 1984382 aug82 2004372

 sep82 1974483 oct82 1956404 nov82 2139405 dec82 2243146

 jan83 2430799 feb83 2736754 mar83 2645140 apr83 2649600

 may83 2723413 jun83 2681667 jul83 2652038 aug83 2569583

 sep83 2537731 oct83 2507263 nov83 2486838 dec83 2480670

 jan84 2472175 feb84 2409992 mar84 2433703 apr84 2412696

 may84 2426452 jun84 2414465 jul84 2400568 aug84 2403730

 sep84 2390675 oct84 2361559 nov84 2356086 dec84 2307069

 jan85 2276397 feb85 2297499 mar85 2109221 apr85 2136593

 may85 2142318 jun85 2130142 jul85 2177708 aug85 2128244

 sep85 2088402 oct85 2098525 nov85 2103542 dec85 2109817

 jan86 2321369 feb86 2561832 mar86 2565172 apr86 2566940

 may86 2196598 jun86 1992152 jul86 1623032 aug86 1664518

 sep86 1726207 oct86 1787840 nov86 2149838 dec86 2890311

 jan87 2798556 feb87 2817038 mar87 2905574 apr87 2621688

 may87 2665310 jun87 2619309 jul87 2599963 aug87 2613385

 sep87 2634492 oct87 2644554 nov87 2645346 dec87 2624565

 jan88 2601145 feb88 2581355 mar88 1596566 apr88 1566414

 may88 1675658 jun88 1706508 jul88 2099135 aug88 2179349

 sep88 1949552 oct88 1629626 nov88 1267644 dec88 1434967