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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.88

+4.2%

4:00 PM EST

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To: gold$10k who wrote (71967)	6/19/2001 7:30:48 PM
From: CuriousGeorge	Read Replies (2) of 116801

HAS A NEW BULL MARKET IN GOLD AND GOLD STOCKS BEGUN? Gold and gold stocks have begun to move up in the strongest surge seen in several years. On May 18, gold bullion prices broke through major technical resistance in the low $280s to close at $287.80 – up $31.85 (or 12 ½%) since early April. Gold stocks, a leading indicator for gold bullion, have been in a strong uptrend for several months, with the XAU (the Philadelphia Gold and Silver Index) up from 42 to 63 – a 50% rise in about six weeks. A number of gold stocks are up 60-80% (or more) in recent months (at this writing). Placer Dome is up 50% since mid-February; Newmont is up 70% since mid-February; Meridian Gold is up 70% since mid-February; Homestake Mining is up 86% since early January; Freeport McMoran Copper and Gold is up 118% since December; Barrick Gold is up 33% since early April [ED. NOTE: Barrick is up less than other producers because it has massive short positions in gold]; Agnico Eagle is up 87% since mid-February; Anglo Gold Ltd. is up 72% since December; etc. A number of gold share funds are up 50% or more over the past few months as well. mcalvany.com

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