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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

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To: John Hunt who wrote (31580)	4/12/1999 9:29:00 AM
From: long-gone	Read Replies (1) of 116815

To: Richard Harmon (31566 ) From: John Hunt Monday, Apr 12 1999 9:11AM ET Reply # of 31581 Gold: Home On The Range? << On Friday, March 12, 1999, hedging managers of gold producers received phone calls from a leading bullion dealer asserting that the gold price rally was over. At the time, the gold price had just barely broken above its 200 day moving average, a key chart point. Further upside could have damaged the equity and bond markets, as the Federal Reserve has stated that it watches gold to predict future inflation. A strong showing by gold would force the Fed to raise interest rates. Recall that this turning point was accompanied by strident calls from world leaders to sell IMF gold, a prospect already discounted by the market. Proposed quantities are too small to make a real difference, but IMF sales became the rallying cry for the bears. -- cont'd -- >> Does this not seem to be manipulation????

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