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Gold/Mining/Energy : Gold Price Monitor

GDXJ 118.97

-0.9%

Dec 24 4:00 PM EST

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To: John Barendrecht who wrote (2982)	11/8/1997 5:25:00 PM
From: Bobby Yellin	Read Replies (1) of 116823

It would have to seem that some central bank is buying up all the gold that is being dumped..what else would account for the large volumes traded? when the sentiment is so negative and so many professionals who have been great in the past are finally getting tired of getting burned, when there are so very many other interesting plays in the market...isn't that the only thing that makes sense? Wouldn't the producers be saving their money..to buy successful exploration companies or smaller producers at firesale..? It is probably the US central bank..ready to step in when Europe has a single currency if that ever takes place to make it sort of a non competitor because it will be backed by nothing much except possibly good will? just guessing help

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