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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: paul ross who wrote (26243)	1/15/1999 1:26:00 AM
From: Sergio R. Mejia	Read Replies (1) of 116764

"gold bullion is poised for an upside breakout". From Kaplan's site: "In a surprising departure from the brokerage community's neutral to bearish near-consensus on the future price of gold, Goldman Sachs' investment bank released its weekly FX report predicting that "the spot price of gold bullion is poised for an upside breakout." Part of the reason for such a prediction is their belief that the Australian dollar will rise sharply against the U.S. dollar, as it is close to breaking above a downward sloping trendline. A strengthening Aussie dollar will make Australian gold producers less eager to sell gold forward, as they will receive diminished U.S. dollar returns. "

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