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Gold/Mining/Energy : Gold Price Monitor

GDXJ 112.58

-1.5%

Dec 15 4:00 PM EST

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To: Ken Benes who wrote (82533)	2/25/2002 11:26:38 PM
From: long-gone	of 116815

I think you're wrong. I doubt we'll see a near term close below $284-286. Feels like history is slowly returning and unless this is another 1975 there is a chance of a lower point in the May-Sept. - but these type date time frames can't really be seen as "near term". I'd almost bet this isn't another 1975. Based on observations of Twain history usually, at best, only rhymes. If the economy is really getting better there will be higher North American demand at some point between now and the end of the year. That higher demand might just drive a higher price, but not lower. Mine production may be some higher but not greatly. Even if Germany can jump through their every hoop & make the threatened sales begin, and begin quickly enough to impact this year's supply, they are bound by the Washington accord. Does anyone really believe the Germans to be as economically stupid as the BoE? They may be willing to threaten mass sales, but I don't believe they are willing to accept less than a good price. Didn't anyone else notice the prior recent German sale was in the form of Euro Gold coins which brought with it a decent premium?

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