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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.04

+0.7%

Jan 16 4:00 PM EST

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To: Ironyman who wrote (45204)	11/21/1999 3:03:00 PM
From: C Hudson	Read Replies (2) of 116871

Speaking of oil....This from Kitco JCS (oil and gold) ID#261213: Copyright © 1999 JCS/Kitco Inc. All rights reserved the following appeared on the Longwave forum a little while ago. If oil soars above $30 real soon I believe gold will be right on its heels ( soaring that is ) : ******** From: Danny Cox Another intersting post by Downstreamer from TB2000. There have been rumours in the industry that Iraq was holding large positions in crude oil futures through some of its shell companies. If they can drive the price up by cutting off exports, they will be able to profit from their futures positions. I wonder if Iraq, Bin Laden, etc. are thinking of other ways to disrupt supplies over the next month or two. Danny Oil prices are gonna be up through the roof tonight on NYMEX Access and in the regular trading session tomorrow. Because the UN Sec Council was unable to come to terms with the French and the Russians on putting a lid on the rollover of the 6 month Iraqi oil for food deal, a stop gap two week Iraqi oil sale deal was approved on Friday. On Sat Iraq rejected this deal and said they're gonna stop loading tankers as soon as those currently in port are done. ( Could someone link in the appropriate stories. Por favor. ) So a big Bravo for our resident oilmeister - Gordo Gecko. His contentions that Hussein is taking big Brent positions and then is gonna capitalize on all this y2k mess by throwing a monkey wrench into the UN oil for food deal just took on increased credibility. This is the first time in three years the Iraqi oil export program is gonna be seriously suspended. Hussein knows a monkey wrench in oil markets right now will extend to a big disruption of our stock markets and western economies. Considering how tight oil markets are, rachet y2k related chaos up another few knotches. Things are gonna get real interesting. If we lose Iraq's 3 million barrels a day we'll be up through $30 by the end of the week. Sell the SUV and get the ol' bike out. Got length ( oil market ) ? Got shorts ( stock market ) ? Downstreamer ( downstream@bigfoot.com ) , November 21, 1999

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