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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: B.REVERE who wrote (67443)	4/15/2001 10:34:30 AM
From: russwinter	Read Replies (1) of 116762

<You are assuming interest rates will be rising in the near term.(6 mo.-year) I don't agree> Despite the leanings of Oz to cut rates, bonds have been beating a hasty retreat of late especially the last two weeks . From mid-March yields on 10 year agency bonds have increased from 5.62 to 6.00, 10 year TB's from 4.75 to 5.18, and 2 years German Bunds from 4.08 to 4.40. For charts of this see: prudentbear.com For the leveraged carry trader using gold as a source of loans to bet on bonds and notes, that's a nasty hit. Add rising gold prices to the mix of rising interest rates and these speculators will be on the defensive as soon as you can say, "click your heels, Dorothy".

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