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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: lorne who wrote (65164)	3/8/2001 7:06:27 PM
From: russwinter	Read Replies (1) of 116782

There is a lot of nonsense coming from "certain" sources. This one from JP Morgan about "extra" hedging is typical and IMO is just pure unadulterated propaganda. Even if there WAS an element of truth to it, IT IS OLD NEWS from the 4th quarter. The contango for gold hedging has dropped from 5% to 3% (or less right now with these lease rate spikes). It make no sense for there to be a glut of hedging at present. mips1.net On the other hand these comments from Van Eck come close to what I've been saying, especially paragraph 4: no incentive to hedge and a credit rerating from CB's. gold-eagle.com

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