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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Alex who wrote (42931)	10/14/1999 1:48:00 AM
From: Terry Swift	Read Replies (3) of 116764

What an unbelievable statement. Here, you have a gold dealer stating that higher gold prices will cause more pain for "the market" and that lower gold prices represent "something more balanced". If this were coming from a bond trader fearful of inflation, I could understand it; but a gold bullion dealer???? Absolutely incredible. I never thought I would see the day that gold producers and dealers would be moaning about a rising gold price and hoping for a lower one. That statement epitomizes the screwed up, irrational market that has been created by central bank lending and producer forward selling. When you have the producers of a commodity taking huge financial losses and some driven to the brink of bankruptcy when the price they can receive for their product GOES UP, you have to ask; exactly when did we cross over into the 'Twilight Zone'? This scenario is too bizarre even for Serling.

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