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Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.00

+2.0%

Jan 23 4:00 PM EST

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To: goldsheet who wrote (97439)	4/13/2004 3:36:45 PM
From: IngotWeTrust	Read Replies (3) of 116912

Haven't seen a silver rally in years that I liked. You recall that one of the opinions you and I have shared across the years is the abundance of silver above ground, ready to take to 4-9s good delivery status whenever it needed to be done. The last "rush in silver" took less than 15 business days to accomplish breaking that "shortage" rumor fed rally. Sinclair said something about the spurious rally of 8mil oz taken delivery or some such being behind this latest fizzle. I also recall reading something I think you posted earlier or someone did, that Penoles is the primary provider of good delivery silver to both London and NY. The name 70% of good delivery bars being furnished by Penoles sticks in my mind. The only tragedy is how many poor man goldbugs got caught up in the silver fevor...again. Wonder how many of them are sitting on $8-11 silver from the last spasm? Re gold top...I believe this is the 4th visit up to the $430 area. I'm on record as to it penetrating that level, with gusto and sooner rather than later, and most assuredly before 12/31/04<grin>

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