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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: russet who wrote (45317)	11/26/1999 1:30:00 AM
From: Terry Swift	Read Replies (2) of 116770

Food for thought, indeed. I agree. The CBs (and I include the Fed in that category) do have the power to drive gold back to $250 and below. The question is... for how long? They can manipulate the gold market for a long time but eventually, supply and demand become so unbalanced, they inevitably will lose control. That is the big unknown. How long can they keep the market capped? The bullion banks would not take that kind of risk without the backing of the CBs and, IMO, the Fed. It is only the unlimited power and resources of the Fed and other central banks that make possible such manipulation for such long periods of time.

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