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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: ahhaha who wrote (34814)	6/2/1999 10:11:00 PM
From: baystock	Read Replies (1) of 116777

<<The panic psychology is bringing about what will destroy them, the rise in the price of gold, because they will have to get supply they don't have at prices below where they can supply it.>> Won't the mining companies who have sold forward be covering their foward sales over time out of their future production? In this case a rising gold price shouldn't really hurt them other than missing out on the difference between the price they sold forward and the higher price. Or will they be getting the equivalent of margin calls from their bullion bankers forcing them to buy on the spot market to cover these forward sales sooner than was planned ?

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