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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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To: Abner Hosmer who started this subject3/5/2001 5:13:04 PM
From: Crimson Ghost  Read Replies (1) of 116764
 
Moving beyond WATA recent gold action again demonstrates how the CBs totally control this market. Whenever the CBs cut the supply of cheap leased gold, prices move up sharply -- and whenver they hike that supply prices quickly head south.

We can talk all we want about jewelry demand and mine closures or the lack of same. But the key factor is CB lending. If the CBs were to cut lending enough to hike lease rates to just 3% on a permanent basis -- can anyone doubt that POG would soon be over $300.
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