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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: Ken Benes who wrote (50991)	3/31/2000 7:23:00 PM
From: Crimson Ghost	Read Replies (2) of 116762

Ken: Bad as ABX is, they pale in comparison with the European CBS. These are the guys providing most of the cheap gold to the leasing market. And this cheap gold is the fundamantal force behind the gold bear. Providing ultra cheap leased gold to the bullion banks reduces the prices they will get for their planned gold sales -- but that doesn't phase these guys one bit. Last year the European CBs agreed to stop expanding gold leasing. But they need to actually curtail leasing to end this gold bear. Cheap CB gold loans are the real culprit here -- not Barrick and the other hedgers.

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