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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.90

+0.1%

4:00 PM EST

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To: Hawkmoon who wrote (27635)	2/3/1999 9:57:00 AM
From: Enigma	Read Replies (1) of 116795

Ron <<Hopefully he'll succeed, and for that to happen, he has to maintain pressure on gold>> I've never really bought into this stuff - its interesting to me that you seem to. I don't think CBs lease gold to keep the price down (how dumb can they be since they hold the stuff?) but rather to get some interest, without having to sell. Nor do I think they lease for reasons of currency value. Some countries like Canada have sold gold for similar reasons - i.e. to replace it with bonds which pay interest - whether this policy has had anything to do with the pitiful state of the $Can, and $Aus, is open to debate - but I don't think the CBs started this policy because they wanted a weak currency. As for IMF sales they have been good for gold in the past - buyers just couldn't get enough - as I've said many times. dd

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