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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Enigma who wrote (3276)1/9/2003 12:40:08 PM
From: JH  Read Replies (1) of 3558
 
Hi - is there any truth to the assertion from the marketplace that ABX has pretty much capped all of their near-term production of gold at the equivalent of US$270/oz?

If so, why can't they just bite the bullet and start covering their shorts (at a loss) so that they can start enjoy some of the upside in gold at these levels?

For those who believe that ABX can break out to the upside, what would be the catalyst for such a move - a MELTDOWN in gold prices?

Pretty unlikely for that to happen, IMO...
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