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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.21

-0.4%

Dec 18 4:00 PM EST

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To: John Paquet who wrote (57702)	8/30/2000 11:24:30 AM
From: Ken Benes	Read Replies (1) of 116815

While I agree that the bottom may be in for gold and possibly the xau, I believe the market is still bookended in a trading range with the bankers on one end and the producers on the other end. Investors should be wary of the actions of each and its effect on the pog now and in the future. The bankers have an agenda and a substantial amount of reserves to back up that agenda. The producers have a chaotic agenda that is in tatters and how they are affected in a rising market for the pog is not certain, nor is it certain how they will act when pressured by the bankers. Any way you view the situation, the short to intermediate term for the producers remains bleak. I believe investors should continue to pressure the companies and their management by refraiming from purchasing their stock. I believe the industry has a lot more restructing in front of them before they can begin to win back the confidence of the investor. Ken

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