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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.30

-0.5%

Dec 12 4:00 PM EST

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To: c.hinton who wrote (82530)	2/25/2002 11:12:17 AM
From: Ken Benes	Read Replies (5) of 116814

The pog is relative to the other situations and keeping the price in check undercuts golds attraction as a safe haven. This is apparently working as the pog continues to lanquish at the 292.00 level. This will not last much longer, the german cb fired a shot across the gold market, one more tantalizing tid bit will strangle the current rally. My guess, a well placed source will leak a tid bit inferring that with the pog falling below 300.00, the producers may be tempted to lock in the current price, kaboom, the longs liquidate, the price retreats to 280 and the bankers and the heavily hedged producers can rest easily for awhile. Ken

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