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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

Nov 11 4:00 PM EST

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To: Activatecard who wrote (65190)	3/9/2001 7:35:56 AM
From: russwinter	Read Replies (1) of 116753

<significant selling by Australian producers that narrowed the forwards> I'm seeing the talk about the demand for lease rates being caused by Aussie (or SA) hedging (sales). I'm skeptical of that. I think the opposite is happening due to delta hedging buyins, and as POG clears 270 and IV spikes, this will escalate. Look at red line: mrci.com IMO supply is being withdrawn from the market, because of credit risk perception and lending overexposure. Too much gold has been lent out, too cheaply, and to too many marginal speculators. We have some powerful bull ingrediants in place. It's a major structural change in this market, not temporary at all. We are in backwardization this AM out a couple months; thebulliondesk.com

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