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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

4:00 PM EST

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To: Jim McMannis who wrote (32812)	4/29/1999 12:43:00 PM
From: Ken Benes	Read Replies (2) of 116756

Jim: The current environment should be favorable to gold. With the rise in oil and commodities in general, it is essential that gold trend up with them. Whether the latest round of news of impending gold sales by the Swiss/IMF is part of an ongoing manipulation is debateable. Regarding the IMF sales we clearly have a combination of holding the price of gold down and selling the family jewels to bailout third world countries that are in desperate straits as a result of a world economy riddled with paper(a manuver destined to fail). The Swiss cannot afford to maintain the worlds strongest currency, it has made it difficult for Swiss companies to compete. This and the political situation involving nazi gold has effected the Swiss. As I mentioned, it looks like gold could use a little organization and creative thinking from the producers. Whatever happens with this rally, it clearly looks as if conditions are becoming more favorable for gold to return to 300+. Ken

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