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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (150658)2/11/2002 3:17:37 PM
From: Tommaso  Read Replies (1) of 436258
 
I know I am beginning to think and talk like a genuine aurophiliac insect, but, to mix the very short term with the longer term factors:

1. The British are almost through selling off most of their gold.

2. The Chinese markets are closed for about a week.

3. The Japanese markets are closed today.

4. The hedges are being unwound.

5. There are enormous amounts of paper dollars floating around the world.

6. There may be large short positions in gold.

7.Morgan Chase is probably going to prove insolvent.

All that said, I am not a long-term (3+ years) bull on gold. I have made chronic gold bugs furious by pointing out how cheaply gold can be produced by huge heap-leaching projects.

But if the world gold companies exercise a tacit restraint in production, their could be a very strong gold market for a couple of years.

Or so I choose to think.
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