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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.43

-4.5%

Nov 20 4:00 PM EST

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To: The Barracuda™ who wrote (69863)	5/21/2001 8:47:53 AM
From: russwinter	Read Replies (2) of 116764

The question of who might push supply into this market at these new prices is an important one. My guess is that the producers are more likely to be buyers than sellers because of the mark to market difficulties they are facing and the delta requirement. CB's: we might get an extra ton or so from the Swiss, or possibly a chunk from some WAG or non-WAG source, but in the long term nothing will change on this front. That leaves fresh short sales from specs and hedge funds. I really doubt that will happen as those players are really on the ropes here. If anything they are fueling the bonfire with forced buys. There is really a landmark event going on in the gold market.

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