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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: long-gone who wrote (29772)	3/11/1999 4:08:00 PM
From: Ken Benes	Read Replies (5) of 116837

Richard: The market is recovering and the XAU is declining to a point of no gain. It is usual that the XAU leads the metal, this rally is beginning to be suspect because of the weakness in the gold stocks. In all probability, investors in the mining companies have become so demoralized that no one is willing to committ money until gold breaks 300.00. Another negative for the current rally, the commercials are beginning to liquidate their long positions. As I have mentioned no amount of body english, wishing, hoping, praying, or selling, is going to move the gold market. Gold will move if and only if actual events take place. The gold market has become so beaten down that it can no longer be viewed as a leading indicator of an impending threat. For gold to move because of some event, that event will have had to occur so that real fear can enter the market. To determine when fear may emerge is a futile effort. Ken

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