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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: The Vet who wrote (4106)	12/10/1997 2:36:00 PM
From: Greg Ford	Read Replies (2) of 116877

Vet, if producers closed out their hedge positions the price of gold should increase. The producers are short gold as they have borrowed the gold from CBanks. By buying gold it should lend support to the market. I don't know how much gold Paddington would look to close out. I don't expect it is significant enough to move the market in any sustained way. Greg

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