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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Enigma who wrote (50641)	3/21/2000 3:09:00 PM
From: Gord Bolton	Read Replies (2) of 116796

There was demand for 50 tonnes of gold at $286 today that did not get filled. I view that as fairly bullish for gold when it is trading between $280 and $290. If we have a huge short position built up again any move upwards will be accelerated by short covering. Foreward selling is being reduced so there would be less selling into a rally from the producers--and of course there are still some who have already sold everything that they have. I think that we move up from here. Interest rates are up again creating more inflation in the cost of money.

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