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Gold/Mining/Energy : Precious and Base Metal Investing

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From: rubbersoul	1/4/2005 8:08:16 PM
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Russ was quoted today at Metropole Cafe (Bill Murphy and GATA). Read further down: We may have had a very significant day as far as gold is concerned. As expected, gold followed through on the downside, dropping to $423.60 before rebounding. With gold blowing through key support between $430 and $433 yesterday, long-term gold longs continue to give up the ship. However, the physical market remains on fire and supported the market on the break. The gold fundamentals are more bullish than ever. Notables: Goldman Sachs was a major buyer today, covering short positions. They followed a substantial GLD buy yesterday: Hi Bill: Looks like the 15 tonnes sold on Dec 7th have now been covered at a huge profit of $20/oz or about $10 million total. Not a bad Xmas present for someone well connected. Below is comment from Russ Winter, Cheers from Auckland Ed Russ Winter wrote: Actually I think the gold market got today exactly what I was hoping for and looking for, namely a large knee jerk hedge fund liquidation. And look who stepped up to take the real physical gold, the GLD ETF adding a whopping 14.3 tonnes today. streettracksgoldshares.com This is very bullish in my book even if it does sell off as low as the 200 MA.

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