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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: long-gone who wrote (44924)	11/12/1999 9:44:00 AM
From: Hawkmoon	Read Replies (1) of 116753

Richard, The proliferation of "electronic gold" is due to mining companies selling forward their production of the commodity. It is, in essence, debt they owe to the party who purchases their future production. You need to look at the miners if you wish to discuss the "excess" of non-physical gold trading in the market. Yet the same condition exists in ANY commodities market, whether it be pork bellies or petroleum. And now until these gold companies meet these obligations, either physically, or by repurchasing their forward sales, they have no real desire to see gold immediately climb in value either. Regards, Ron

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