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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: marek_wojna who wrote (67445)	4/9/2001 5:08:13 PM
From: Claude Cormier	Read Replies (2) of 116791

<I'm convinced that "You are your own worst enemy" fits most of the gold companies. > For sure forward selling is not helping the short term price of gold, but over the long run, this is a zero sum game as they will eventually payback from future production, this will limit the gold available to satisfy fabrication demand thefore causing price to rise balancing the equation. The real damage to the gold market is done by the gold carry trade players. Those who borrow gold, sell it on the market and invest in US financial instruments. This is not a zero sum game as the gold that has been really sold short is no longer available and will have to be purchased back on the market.

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