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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Alex who wrote (70810)	5/30/2001 4:46:54 PM
From: Ken Benes	Read Replies (2) of 116764

Alex: In the final analysis, the demand did not exist to support this failed rally. This calls into question the entire premise of the promising supply/demand fundamentals of gold for the following reasons: 1. If demand was indeed outstripping supply, buyers would have appeared as the price declined off its high. 2. If a shortage of gold existed for leasing, the hedgers would not have been able to sell forward as quickly as they did. 3. The producers did not lend any support to the rising pog. 4. The rally was false from the start, probably a collaberation of the bankers, speculators, and the producers, which allowed a few producers to lock in some higher gold prices and pulled the rug out of any move to offer gold as a viable alternate investment. Ken

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