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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: long-gone who wrote (40789)	9/25/1999 1:29:00 AM
From: Zardoz	Read Replies (3) of 116764

Ah there's the rub, Are not ABX,HM,NEM members of the S&P? & what's the PE of the S&P? Ahh the true rub is that many in the gold industry can't see the wrong in front of their eyes. ABX: P/E = 24.1 NEM: P/E = 29.8 HM: P/E = ??? PDG: P/E = 27.5 _______________ S&P: P/E = 27.5 But the bulk of the S&P is based on consumables and not commodities. With a lower price of gold goes a lower earnings, and thus a lower price. One should not stake a life on a "short rally" as short rallies are short lived. And when they break, they break hard. Seems a great many have (all of a sudden) found a reason to own more gold which is now driving the demand higher and the price up. I like the comment, but: what is the number of ounces that traded in the last 4 days on the spot market? And how does that compare to the futures? Maybe gold bulls are playing into the hands of producer/hedgers who can sell into the futures hard, and still buy spot. But when the new contract months starts Sept 29, what if it falls? Are the GPM and GATA people going to cry Foul again? Hutch

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