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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: ForYourEyesOnly who wrote (35963)	6/27/1999 9:51:00 AM
From: John Soileau	Read Replies (2) of 116753

<< Somewhere the "physics" of the situation must create support.......>> Yeah, no question about it, low-price choking off of non-CB physical gold with steady or rising demand applies a powerful upward force on price. In a NORMAL market. Problem here is, that upward force can be and has been opposed by an equal and opposite reaction -- CB selling and leasing. The variable is time--WHEN will the counterforce be removed or exhausted? Next week, or when most of the CB gold in the world has been sold and physically delivered, years from now? Who knows. Maybe the BOE auction results, or call buying activity, will give some clues.

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