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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.90

+4.2%

Dec 9 4:00 PM EST

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To: Enigma who wrote (55846)	7/6/2000 11:27:58 PM
From: pater tenebrarum	Read Replies (1) of 116804

i would not disagree with the need to curtail production - but the hedging issue is not separable from that. without hedging, production would likely have fallen already, as many unprofitable mines would be mothballed by now. but the effect of hedging can't be denied - it may concern only future supply, but it leads to selling pressure in the here and now, plus deep-pocketed counter parties whose main interest it now is to keep the price as low as possible. heck, even some producers want the price to fall - see ASL - it's completely perverted. i never go to bed before 6 am...

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