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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Enigma who wrote (40003)	9/3/1999 11:31:00 AM
From: Zardoz	Read Replies (3) of 116796

The Canadian Gov't - the great defender of it's resource industry. I don't think that's a fair comment since Canada has been selling Gold for such a long time, and at such a high price. You should say that they have made more money from their gold holdings, by selling, then USA has made from theirs {which is well 130+ times larger}. But if USA holding are 260MtOz, then the USA has lost from $450-$255 or (450-255)*260Mtoz := 50.7B Hmm, but Canada has interest bearing instruments. Nope, I can't see why anyone could say that Canada has done a wrong. After all the Canadian Dollar is on the rise and that's without much gold backing it. Hutch

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