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Gold/Mining/Energy : Silver prices
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To: ForYourEyesOnly who wrote (1930)6/28/1999 1:56:00 PM
From: Ray Hughes  Read Replies (2) of 8010
 
THC:

1) Silver's relative strength is very impressive - I believe its getting risky to be out of silver and we may not get another trade below $5.00.

2) Gold forward sales are "zero sum transactions." It does accelerate, temporarily, the supply of gold and then, temporarily, reduce the supply. At current gold prices few mines will sell forward so the temporally distorting effect on POG will abate. This likely will contribute to a rebound and I'm intrigued with writing options on Barrick.

RH
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