Gold Price Monitor Message Board

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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.30

+3.6%

Jan 12 4:00 PM EST

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To: GST who wrote (28579)	2/19/1999 2:36:00 PM
From: Ken Benes	Read Replies (3) of 116854

I am glad you like what you see, I see very little that is encouraging in the short term. Gold is up over 2.00, the XAU remains in the 63 area. This tells me that the bulls in the gold market will only play once the price rises to the 300 area. From todays anemic action, it looks as if they are skeptical that gold will be able to get thru the 290 level. With the cost of production dropping like a rock, the seniors are willing to produce more at prices below 300.00 and hedge at anything above 300. Their efforts along with the specter of central bank selling continues to be taps for the gold market. The only thing that will actual move this market higher is an actual event, not the mere threat, that threatens global stability. Ken

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