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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.88

+4.2%

4:00 PM EST

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To: Ken Benes who wrote (39605)	8/25/1999 7:38:00 PM
From: Enigma	Read Replies (2) of 116801

Unfortunately the paranoia that pervades some commentators on this thread blinds them to commonsense. There are numerous producers all over the world - they are not a cartel - nor are they a hormogenous group - they don't all have the same hedging programs. And, being managed by human beings, some no doubt don't have a consistent policy. This sort of easy labelling is so mindless that it leads some people to suggest the opposite of what can possibly be true eg 'it is in the producers interest for the POG to fall'!! Just step back a little bit and consider how ridiculous this statement really is. I read the article - I'm not sure if the author even had a good handle on the ABX hedging program.

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