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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.96

+2.0%

4:00 PM EST

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To: lorne who wrote (3428)	11/22/1997 7:28:00 PM
From: Albert V	Read Replies (1) of 116820

Lorne, you have made a mistake in that the price of gold is not quoted in Canadian dollars but U.S dollars. If the Cdn dollar was devalued, the price of gold would increase in CDN dollars the same amount it was devalued by. This would be reflected in the value of your fund. By the way, it has occurred to me that a company that has sold a lot of its production forward would not benefit as much from a rise in POG as one that hasn't. Anyone tell me which companies are not selling forward as much?? Albert

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