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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

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To: John Hunt who wrote (33460)	5/8/1999 9:53:00 AM
From: Ken Benes	Read Replies (2) of 116762

John: Britain's sale of gold was the most egregious example of market manipulation of gold that I have seen to date. When the message becomes so blatant that it is obvious to all, we are nearing the time when gold will put on a good rally and spit in the eye of any announcement of impending gold sales. This day will come a lot sooner if the gold companies will refrain from taking any more forward sales and make announcements of buying back their hedged positions as the gold price rises. The war may get so intense the the central bankers may be forced to throw their gold rolexes into the fray. The south africans, australians, and some of the senior golds, particularly Barrick, have become arms of the central banks, it is time for them to switch sides. Ken

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