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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: goldsheet who wrote (7971)9/28/1999 4:15:00 PM
From: sea_urchin  Read Replies (1) of 81050
 
Bob : Yes, we have previously discussed how gold shares had risen disproportionately to POG. Now the situation is righting itself as "profit-taking" is seen in shares while POG has continued upwards.

Although the situation appears technically weak for shares in the short-term, I believe the outlook for continued rises in shares and POG is still good. The long-term down trends in POG and XAU are broken and I do not yet see anything like a top reversal pattern in place. I'm still hanging in there although, I must tell you, I was tempted to lighten a bit earlier today.

Anyway, the rise in POG to $310 from $260 a few days ago was just amazing. Must be big short-covering.

I wonder what tomorrow will bring?

PS. I have just seen that POG has in fact been to $328 and has made what looks like a reversal spike. Now I'm really confused.
kitco.com
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