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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

Nov 26 4:00 PM EST

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To: Real Man who wrote (82679)	2/28/2002 10:55:33 PM
From: E. Charters	Read Replies (2) of 116768

Well maybe you are hoping it will go there, like Nixon hoped it would go down. The reality may be different. We are seeing perhaps a long uptrend in gold. The economy and US market is not that resilient. This market shakiness usually accompanies an uptrend in gold. Long term we are seeing a gradual erosion of production worldwide. To keep up this high level of production many more mines than are planned have to come onstream each year. So no matter where gold goes in price, production and gold forward delivery will fall. Ultimately the price will rebound. EC<:-}

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