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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Zardoz who wrote (67715)	4/16/2001 3:02:45 PM
From: russwinter	Read Replies (1) of 116762

<For gold to rally the Aussie and CAD bux would rally> Tend to agree that an Aussie dollar rally would help the gold bull cause. But, even more important is this spike in interest rates especially in the short dated one to five year notes the carry traders love. The two year yield is up 8 basis points today to 4.35 and the five year yield is up 10 BP to 4.76. Combine that with a four dollar advance in gold today, and the speculator crowd is having a very bad day. Plus the trade has already been going against them for the last two weeks. Message 15664516 Implied vol. is ratcheting up here as well.

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