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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.67

+5.0%

Nov 10 4:00 PM EST

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To: Enigma who wrote (22225)	10/24/1998 8:23:00 PM
From: goldsnow	Read Replies (3) of 116753

Enigma, in answering this, I would set aside my stated views that we are up for political shocks in Russia and Yugoslavia, as well as Middle East by May.... Now IMO the dollar collapsed for a reason (same as Gold dropped for a reason...I think that argument can be made convincingly that POG bottom is in...survived high dollar, EMU will hold 15%, selling is unlikely and so on... But...the venture was based on simple fact that ABX, PDG and others hedges run-out in 2000-2001 and unless POG moves-up they are unlikely to sell forward at this price, rather they would concentrate on buying cheap mines and closing more expensive, still reducing world supply...

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