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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

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To: goldsheet who wrote (94842)	5/1/2003 8:27:31 PM
From: Broken_Clock	Read Replies (1) of 116814

Nevertheless, CBs and miners are significant supply sources. Once gold rises over the 350 price then ABX, PDG, etc. are loosing $$$ and are forced to cover. How do you cover when it's buried in the ground still? Do you have figures for the outstanding hedges of the major miners? I'd guess it's well north of 20 million ozs. One other factor to consider...it is becoming tougher worldwide to get a mine up and operating. The 3rd world countries are becoming a little wiser environmentally speaking, that is.

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