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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Ken Benes who wrote (49410)	2/21/2000 2:01:00 PM
From: Crimson Ghost	Read Replies (1) of 116764

Ken: Amen! I do not think many gold companies are rejecting hedging -- just hedging at absurdly low prices. When POG rises to $350-375, producer hedging probably will pick up again. A sustained bull market in gold and gold shares requires a big jump in INVESTMENT DEMAND. Curtailing producer hedging at current depressed prices is an important first step. But it is only that. The sky is the limit for POG when and if investment demand takes off. But until then, $350-375 probably will be as good as it gets.

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