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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: long-gone who wrote (30193)	3/16/1999 6:24:00 PM
From: John Hunt	Read Replies (1) of 116759

Today's Kaplan's Corner: << Question: What do you think about today's action in the XAU versus the gold price? Answer: Before every major rally in gold, the price of gold made a final intermediate bottom while the XAU outperformed the yellow metal during its last dip. On Tuesday at 10:09 a.m. gold hit $281.25, 55 cents lower than its January 27 nadir of $281.80, while the XAU hit an intraday level of 59.57, slightly below its March 1 intermediate-term bottom of 59.76, before ending the day with a net gain. This is exactly the kind of technical behavior seen in 1992-1993, the last time that gold shares more than doubled. In other words, today's activity was very bullish technically. >> goldminingoutlook.com

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