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Gold/Mining/Energy : Gold Price Monitor

GDXJ 141.15

+3.5%

4:00 PM EST

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To: Enigma who wrote (55667)	7/5/2000 6:00:34 AM
From: re3	Read Replies (2) of 116978

enigma, i queried somebody who writes for one of the other boards, and this was the reply on the gold short position i received : (pls comment on this if you want) --- Frank Veneroso has done a very detailed analysis and figures that it is about 10,000 tonnes. Since Frank probably has a better handle on the situation than anyone else in the world and he has no reason to fudge any figures, I am prepared to accept his analysis at face value. The 10,000 tonnes includes about 4,000 tonnes of gold borrowed as part of forward selling by mining companies, which is not really a short position since they have the gold to pay back the loan. Therefore the real short position is most likely around 6,000 tonnes. ---

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