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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Ken Benes who wrote (47062)	1/14/2000 2:11:00 PM
From: Terry Swift	Read Replies (2) of 116786

I hope the gold mining industry, and Barrick in particular, is paying attention to the price of oil. Assuming the impetus for these skyrocketing prices is not Y2K related, OPEC is doing one fine job of making its only product scarce and expensive. Oil has more than doubled in a few months due to production agreements and is now pushing $28/bl. Contrast that with the idiots in the front offices of the gold mining industry flooding the market with product they haven't even mined yet and won't mine for 5 or more years. Egads, what insanity. We need a stockholders revolt to get these idiots removed by their Boards of Directors. I have a feeling oil is headed much higher. Of course, it won't be inflationary; at least, not according to the government numbers. Nothing ever is.

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