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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.82

-6.4%

Dec 29 4:00 PM EST

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To: Ken Benes who wrote (43380)	10/19/1999 4:10:00 PM
From: Zardoz	Read Replies (4) of 116835

what is more ominous, the XAU never confirmed the breakout and is headed lower. That's because it was a futures related rally, and not based on fundamentals. And as such it was the ECB that propagated this manoueuvre on the futures markets, the same way last week Greenspan functioned his rathe on the equities markets during options expiration. Fun games eh? So you get any GOLD stockies margin call yet? Barrick is currently selling at its 1993 level despite tripling its production and reserves. Gold was higher in 1993, then now. I know, I've seen the numbers. Now what is the market capitialization, BV, assets... of then compared to now. You anti hedger comments are ludicrous. If you are pro gold, you buy unhedged on the way up, and hedgers on the way down. Why own the hedgers. Cause they will be around longer then the non-hedgers when the price of gold drops. Hutch PS: :)

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