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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

4:00 PM EST

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To: russwinter who wrote (48225)	2/6/2000 6:03:00 PM
From: Ken Benes	Read Replies (3) of 116762

Investors do not purchase gold stocks because of low pe's, cash on hand or any of the other usual fundamentals that can be applied to investing in most other equities. Buyers of gold shares want leverage to an increase in the price of gold during periods of uncertainty. As witnessed in the 4th quarter of 99, hedging has capped the ability of a gold equities to rise exponentially to the price of gold. Consequently, gold shares are having a great deal of difficulty attracting investor money. If investors are looking for fundamentals, clean balance sheets, and cash on hand there are many other equities that provide those qualities. Ken

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