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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: The Barracuda™ who wrote (69868)	5/21/2001 9:39:47 AM
From: russwinter	of 116842

<The Fed's printing money is much more important than the chump change hedging miners do. > Not in terms of the supply function of gold as a commodity. Printing money=inflation will only be a variable if it kicks in substantial investment demand for gold as money. Have you seen any evidence of that being the cause of this rally? I don't think so, although it might at some point. This is a structural change (not unimportant) rally relating to gold's use in finance schemes (carry trades, speculative short selling attacks, and producer "hedging"). This is now potentially being unwound.

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