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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: goldsheet who wrote (95520)	6/27/2003 5:19:33 PM
From: skinowski	Read Replies (2) of 116762

Gold's price rally ... was massively aided by producer de-hedging, which saw gold miners buying back their previously sold future production. Makes sense - sounds like a short squeeze of sorts. Massive buying will certainly help a rally. in euro terms, gold has recently returned to the bottom of its two-year range of 300-350 euros an ounce. Interesting point. In Euro terms gold hasn't really rallied much, has it? "Ultimately gold is about jewellery and jewellery demand continues to stagnate," Barclays Capital said. Is that true? I would think that gold is more interesting as a store of value during uncertain times. When all this talk about having 5-10% of one's assets in gold changes to a target of 10-20%, gold will rally. financial/economic/geopolitical uncertainty would also be supportive for gold. This does have the ring of truth, but it is also possible (imho) that a deflationary process may, at least temporarily, severely depress the price of gold. All multi-$$$ questions... Thanks for the article.

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