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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: lorne who wrote (57299)	8/14/2000 10:41:20 AM
From: Ken Benes	Read Replies (1) of 116950

The prospects of a short covering rally in gold appear to be good. However, be wary of playing the bounce with an investment in gold equities. They will not participate in the rally in any meaningful way, investors continue to view the producers as confederates in the fall of the gold market. They also lack any confidence in the management teams of the producers to facilitate a rise in the pog. In fact most investors continue to believe that the producers themselves will short circuit the chance of a higher gold price with a continuation of overproduction and a high probability that they will engage in hedging when gold reaches a point of resistance. Ken

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