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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.75

-0.9%

4:00 PM EST

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To: maceng2 who wrote (83076)	3/8/2002 7:25:29 PM
From: Square_Dealings	Read Replies (2) of 116896

This week had very strong bias to an upward movement in gold prices based on the cycle charts. Add to it the dollar was falling like a rock, we've had the bloodiest week in the Mid East violence ever, crude and all commodities were rocketing up and gold prices SHOULD have moved up strongly this week. Those that are manipulating gold prices via options were successful in holding down a powerful rally. But they are playing with fire. I think the result of this is that the next rally will be even more powerful than it would have been otherwise because the energy of this weeks squelched rally is still stored in the gold. And on top of it we now have a ton of shorts that were added to keep the price down. So we will now see what the combination of these two forces (unwinding of shorts and planetary forces) can do for the price of gold. I expect a strong rally to begin by no later than Thursday of next week and that instead of the $321 oz target we probably would have reached, we will now see 350+, maybe 400 over the next few weeks. Silver feels even more explosive. They are having a more difficult time keeping it down. M.

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