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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: Alex who wrote (60431)	11/2/2000 9:57:20 AM
From: Ken Benes	Read Replies (1) of 116770

Your posts are a good barometer of the state of the gold industry. Each piece of information you provide indicates gold being pressured on many fronts, producer hedging, central bank sales, and the relative values of currencies. With the global economy so intertwined and dependent on the US financial system, the bankers and central banks of the industrialized nations have no choice other than to support the dollar and the US markets. The stakes are so high, I believe little will change other than a continuing erosion in the pog as investor view an opportunity for profits in the current environment as not very good. With gold contained, an illusion of health pervades the global economy in spite of the pressures that are evident on the banking systems of the world and the respective currencies of the industrialized countries. Ken

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