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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.68

-0.3%

Dec 5 4:00 PM EST

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To: goldsnow who wrote (43958)	10/27/1999 6:30:00 AM
From: Bobby Yellin	Read Replies (1) of 116798

biz.yahoo.com this just defies logic..I wonder how much the BOE has cost England with their gold sales.. are they coming or going or just spinning?- at this point with the bizarreness being exhibited..who would want to trade gold right now.. but on other hand,if these morons are ruling the world..gold looks fantastic for the long term.. "Analysts see the UK as being worried about the fate of Commonwealth member country Ghana, whose largest gold producer Ashanti Goldfields Co Ltd has been hit hard through its hedge book position by September's unexpected gold price rise. Ashanti, whose derivatives book was designed to protect against a fall in the gold price, was plunged into a loss of US$570 million when gold reached $325 an ounce. Now it benefits from the falling price. ''In saving Ashanti Gold Mines, it (Britain) saves the Ghanaian economy. It doesn't want Ghana...to fall over, because otherwise it's going to have to finance its recovery,'' Goode said. This increased pressure on the Bank of England to push the price of gold down, he said."

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