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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: Vitalsigns who wrote (48234)	2/6/2000 7:02:00 PM
From: Gord Bolton	Read Replies (1) of 116762

"Australian Market Today - 7 February We are expecting the local market to move about 10 points today as Gold is expected to be very strong and bring the Gold stocks up. Net stocks are again expected to be strong"... "Gold surprised the market by surging through the $300/oz to end the day around $310, a gain or over $20 over the day. The driver of the move was first widespread talk of a large trader buying gold aggressivley on behalf of beleaguered African gold miner, Ashanti Goldfields [X.AHA]. The surge was also driven on after Jay Taylor, President of major North American producer Placer Dome [PDG], announced that "as of today, the Company has ceased adding any new hedge positions. As a result, we expect to see our hedge book reduced by at least two million ounces of gold by the end of this year." " stockhouse.com.au

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