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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.60

+2.2%

Dec 26 4:00 PM EST

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To: Real Man who wrote (95117)	5/23/2003 1:00:23 PM
From: goldsheet	Read Replies (1) of 116833

> We'll just have to wait and see? Well, it's been almost five years since prediction of the imminent derivative banking crisis. In that time two firms dodged the bullet (Ashanti/Cambior), the industry got scared and restructured hedgebooks, the basic economics of hedging changed making it less profitable, covering began almost three years ago and miner have bought about 1000mt on the open market above an beyond what they delivered into contracts from production. I'm a firm believer in markets correcting problems themselves, and so far so good. Every day looks better in the gold mining business, not worse like the merchants of gloom and doom will tell you or SELL you on their websites.

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