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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.08

-0.8%

Dec 24 4:00 PM EST

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To: Ken Benes who wrote (39366)	8/21/1999 5:46:00 PM
From: Hawkmoon	Read Replies (1) of 116822

Ken, It's because oil producers have cut back on their supply while at the same time consumers are locking in supplies in case of potential disruptions over Y2K. Asian gov't have been advised to accumulate a 60-90 supply of oil, if possible, as a contingency plan to alleviate any disruptions. On the other hand, some major gold producers have not been cutting back supply, but have in fact, been selling forward in order to lock in profits on their long-term production. And oil is a must have, while gold is a "nice to have". Regards, Ron

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