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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.87

+3.9%

Jan 6 4:00 PM EST

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To: KyrosL who wrote (63317)	2/4/2001 7:47:14 PM
From: goldsheet	of 116842

> Bob, do you think that, before there is a sustained gold bull, a final washout is needed, where gold drops to around $220, and stays there long enough to shut down some production? Don't think we need a washout to $220, but two years at an average price of $279 just has not been enough to do the trick. We might need to see $250ish then grind along the bottom for months (even another year) to truly aggravate the goldbugs and get some of the miners to give up. I still do not think there is going to be a substantial reduction in primary mine production - waiting to see 2000 numbers.

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