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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: John Hunt who wrote (36540)	7/5/1999 11:07:00 AM
From: Winzer	Read Replies (1) of 116756

John or anybody, Where is gold going from here? (especially tomorrow's BOE sale) Okay, so we know that in most likleyhood the IMF sales won't go through because the "ends do not justify the means". Is this just a case of the (greedy) hedge funds looking to recoup some of their huge losses by using "public funds"? i.e. you borrow CB gold and pay <1% interest and with the proceeds buy US treasuries paying >6%. So they are making an "easy" 5% with little risk? OR do they also short the gold they borrow from the CB's? only to buy it back at a cheaper price? I'm just looking for the main reasons that they picked on the POG as the "play of the day/month/year"? did they (hedge funds) get told off by the IMF for bringing on the financial crisis in Asia so they then moved to gold where the CB's could make their CPI look good by the "manipulation and/or whatever" is going on? Confused Winzer

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