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Gold/Mining/Energy : At a bottom now for gold?
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To: Bill Murphy who wrote (1207)6/23/1998 8:18:00 PM
From: Ray Hughes  Read Replies (1) of 1911
 
Hello Bill,

Firstly you have to believe that the CBs prefer strong currency, weak gold.

Then you have to understand that CBs don't have to sell gold - they simply have to trade futures in such volume as to discourage and intimidate pit traders into dumping their own positions.

Look at the size of national debt - take a tenth of a percent off interest rates - calculate the interest savings - it will pay many fold over for gold market manipulation costs. If done with vigor and conviction enough to intimidate traders the bear can likely trade net flat.

RH
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