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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: 4figureau who wrote (3737)3/19/2003 5:16:28 PM
From: Jim Willie CB   of 5423
 
key lines by Russell on gold

Right now, I suspect that there is a great deal of manipulation in gold. Mines that are hedged are trying to unwind their hedge positions and they therefore have an interest in gold holding steady or certainly not rising. Large investors and governments who are in the process of accumulating gold don't want higher gold at this point. Central banks, who view gold as the enemy, certainly don't want higher gold. Thus gold is fighting important interests, none of which want higher gold prices.

These interests have a problem, however. The problem is that they are pitted against the most powerful force in the market, the primary trend. The primary trend of gold is bullish, and in due time this will become obvious to the investing public. When that happens, gold will be moving into its second psychological phase.

/ jim
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