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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: Ken Benes who wrote (34159)	5/19/1999 10:23:00 AM
From: Enigma	Read Replies (2) of 116815

Ken - I think it's you who is missing the point!!: "When physical gold was selling on the spot market for 385.00, the average forward price that Barrick has received, Barrick's stock was selling for around 30.00" What do you suppose Barrick was getting for its gold then - $450, $500? ABX stock has been the bellweather for many years now and for the most part goes up and down with the POG - which is more often an emotional reaction than not - and probably why, now, it is a buy of buys, along with K and others (assuming K is fully hedged of which I'm not sure) All of this stuff about Rolex watches is cute - but that's all it is. d

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