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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.28

+3.8%

Nov 28 4:00 PM EST

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To: Zardoz who wrote (33864)	5/14/1999 9:51:00 AM
From: donald martin	Read Replies (1) of 116790

<<And yet gold goes down.... WHY?>> Because a lot of people made money being short for a while? Which convinced more people that the short side was the smart side to be on? Just a guess. Remember the yen carry trade? I don't hear as much about it these days, because I don't think it's as profitable. (Borrow yen at low rates, buy US treasuries.) For a while, everyone and his brother's institution was doing it, because it was such a no brainer. I have no idea what kind of positions remain outstanding there either (in the yen carry trade). Wonder what a short bout of inflation would do to those positions?

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