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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.27

+3.5%

Jan 12 4:00 PM EST

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To: long-gone who wrote (90536)	10/13/2002 9:20:39 AM
From: IngotWeTrust	Read Replies (1) of 116853

only one problem I have with that particular piece of succint FT posting, is this, Richard: Barrick bought bonds, including corporate bonds, using what are known as "total return swaps" sold by investment banks. <snip> Earlier this year, Barrick started to back off from its corporate bond investment programme. Holding corporate bonds has become a little dangerous. OH? Guess the august Financial Times doesn't sit glued to CNBC during its "afternoon and early evening Prime Time U.K. tv hours" nor open their bond charting program "chart books" much....... Last I looked, corporate bonds had swooped higher, not lower, creating more cash as interest rates have plummeted here...so I wonder what Barrick has REALLY done with the gold carry trade money that dropped their earnings forecast a healthy 30%-ish haircut?. hmmmmm gold_tutor

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