Gold Price Monitor Message Board

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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: The Barracuda™ who wrote (49094)	2/15/2000 3:18:00 PM
From: Ken Benes	Read Replies (1) of 116762

It is important for gold to remain above 300.00. Currently, the gold market is in somewhat of a no mans land. Cb sales have been contained, the forward sale/leasing of gold is all but dead, and demand is greater than supply. Gold should rise in price, correct. Not necessarily, gold has been in the doldrums so long, that the commercial buyers stop buying at prices above 300.00 expecting lower prices in the near future. The producers have changed direction 180 degrees, but they need to do more. Supply can be restricted even more by delivering their gold against their hedgebooks. This is physical gold not paper gold as barrick has done in their pulic relations motivated flim flam games. At some point, demand will return and the gold price will move towards equilibrium. Ken

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