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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.30

-0.5%

Dec 12 4:00 PM EST

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To: re3 who wrote (94804)	4/30/2003 1:19:40 PM
From: goldsheet	Read Replies (1) of 116814

I'm going to start to sound like a broken record, because I said this six months ago, but we have a serious divergence between bullion and stocks and now even within gold stock sectors. When bullion went up earlier this year, it did not take the gold stocks with it. Gold going up or down as much as $5-10 currently has minimal impact on the shares. Likewise, the weak dollar which is good for bullion, means a strong rand which is killing the South African shares. I do not have an axe to grind either way, I have no position long or short in gold shares (since December 2002). The movements in gold shares have been so minimal (trading range of 65 +/- 5) that I can not get excited enough to buy or short them, because there appears to be no clear direction. Heck, I barely got excited enough to type this post. Yawn .... I'll go back in my assigned napping corner now ;)

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