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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: mikesloan who wrote (635)	7/17/1997 10:37:00 PM
From: lightning	of 116764

Dear Mike, I think this rally might be the start of a classic short squeeze, everyone has been so concerned about the sell side that they have forgotten that demand is still out stripping supply and the main reason that gold is at this price is the 10 million oz's that are short into the market.With the closing of high cost producers in South Africa, and Canada there is even less gold being produced. Maybe the shorts have pushed the price too low. yours lightning

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