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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.23

+0.6%

Dec 16 4:00 PM EST

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To: Mark Kubisz who wrote (8530)	3/19/1998 6:35:00 PM
From: PaulM	Read Replies (1) of 116815

Hi mark. It means they're buying back the gold they sold forward. They made money on these contracts, because they sold at a higher price. Now they're "locking in" the profit by buying back at current prices (i.e. realizing the gain). Basically a succesful short sale. Means they're betting POG doesn't go lower. Arguably a bullish signal, if you think gold producers know more than the rest of us.

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