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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: d:oug who wrote (47399)	1/24/2000 9:50:00 PM
From: baystock	Read Replies (2) of 116759

<<Its just my opinion, but Barrick mines gold to sell directly, and also Barrick creates another type product associated with gold called hedging, which is part of the value of an ABX share. Now this product called hedging is used in most all companies and everyday life for people even thought few call it that. I'am sure MicroSoft and GE hedge their companies, but its just very much easier to label it and view it for commodities like corn and lumber and gold.>> Barrick can't have it both ways. They can either position themselves to profit from a declining gold price OR a rising gold price, not both. They have chosen the former, which is a okay. But since most gold mining share investors expect their company to profit from rising gold prices, they need to be warned to avoid this "wolf in sheeps clothing" called ABX. As for the minority of gold mining company investors like yourself who believe gold won't appreciate, they can hedge their investment by buying ABX. But only a dumb schmuck would buy ABX even if they believed gold would stay flat or decline from these low prices.

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