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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Alex who wrote (58695)	9/22/2000 11:36:46 AM
From: Enigma	Read Replies (2) of 116759

(con't) I think a lot of people here fail to understand that a great deal of gold is being produced profitably at these prices - so there's nothing to say that gold should go up much from here. After all, the object of being in mining is to 'mine ore at a profit' and many companies are doing just that. IMO all of this blather about hedging, conspiracies, etc. is just that - blather. All it has done is to extend the cycle somewhat - so a mine that is marginal on a spot basis today may have bought an extra year or two - it is indeed a long cycle that we're going through. Having said that, it would be great to see gold rally from here - way above $300 - and it may happen - but there's no God-given reason why it should, just because it's gold. e

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