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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.16

-0.1%

Jan 13 4:00 PM EST

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To: Enigma who wrote (39275)	8/19/1999 12:35:00 PM
From: Ken Benes	Read Replies (2) of 116856

I do not think you are reading my post correctly. Clearly, I am saying that there is more gold available than GATA thinks there is. GATA clearly believes that the available gold is at a low point and consequently when a short covering rally ensues, there will be no gold available to cover the short positions. This may or may not be true, however, I believe it is significant that with demand gold at record levels and prices falling, the gold has to be coming from some place and evidently there is enough to prevent gold from responding to a favorable supply and demand situation that currently exists. I also do not think GATA is factoring in that with each passing year the supply of above ground gold climbs by approximately 3000 tonnes. Double D, I believe even you will concede that with a large deficit in the supply of gold vs demand, there must be a reason why gold continues to fall. This is an unprecedented phenomenon in the commoditities market. Ken

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