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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: russwinter who wrote (73629)	7/19/2001 11:51:47 AM
From: Crimson Ghost	Read Replies (2) of 116845

I must disagree on lease rates. Sharp drops in lease rates such as we have seen the last few weeks are always a big negative for gold and gold stocks. Look how POG has given back most of yesterday's gain even though the dollar has rallied just modestly. Big gold rallies are usually preceded by sharp jumps in lease rates. I have never seen a big gold rally following soon after a steep drop in lease rates. The upside is very limited at this point in time IMHO unless lease rates rebound significantly and/or the dollar really gets smacked.

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