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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: long-gone who wrote (39361)	8/21/1999 11:10:00 AM
From: Ken Benes	Read Replies (1) of 116845

The markets were so impressed with this revelation that gold declined an additional 1.60. These revelations are only playing to the choir. To investors of equities this message is falling on deaf ears. If the liquidity provided by gold is required to support the equities market, sell it all, even gold that does not exist. As evidenced by this weeks action, the forces led by Hannibal's crew are formidable and have enormous resources. Unless and until, all the producers, mostly foreign, separate themselves from the bullion banks, the gold market will remain depressed. Gata's efforts while laudable are probably not enough to change the dynamics of the gold market. I have quite a few connections in the financial markets and without exception, they have all told me that gold's price is known to be artifically low and little will change unless the producers divorce themselves from the rules of the game as they are now being played. GS knows this better than everyone and if the reports of the cafe are correct, they are blantant enough to be working the phones for the desired effect. By this weeks action, they have had a receptive audience at the other end of the line. Ken

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