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Gold/Mining/Energy : Gold Price Monitor

GDXJ 87.56

-4.9%

Nov 4 4:00 PM EST

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To: long-gone who wrote (38378)	8/6/1999 1:37:00 AM
From: Greg Ford	Read Replies (1) of 116752

Richard, I had to search back to my message on May 13th regarding J Aron to see what you were referring to. Clearly when I wrote my comment lease rates were still low. It is only in the recent several weeks that lease rates have risen. I believe that they have risen due to increases in producer hedging and possibly increases in short positions by hedge funds and speculators on Comex. In addition the recent increase in lease rates may reflect central banks withdrawing gold from the market prior to year end, that is Y2K fears. Greg

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