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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: Jim S who wrote (36641)	7/6/1999 11:44:00 AM
From: Enigma	Read Replies (2) of 116758

Maybe because the bids were filled under the spot price and the majority of the other bids were lower - so in a way it was misleading to say the offerings were oversubscribed 5.2:1. Not at the price of the fill they weren't. Makes you wonder if some of the larger bidders weren't CBs, i.e. not normal market players - who will now wait till the next auction - hoping they will get it even lower then - but the political dynamics of this have to play out now - and could change the whole picture - that, plus the mine closings, etc. d

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