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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (35000)	6/9/1999 3:04:00 AM
From: Zardoz	Read Replies (3) \| Respond to of 116764

Yes, many have notice that. MY opinion why: #reply-9896305 From: Jim McMannis Tuesday, Jun 1 1999 9:22PM ET "XAU is holding up extremely well. I wonder why that is? Hummm" Well I'm sure you know... ;) Retained earnings from the large hedgers: PDG/ABX etc places an artifical bottom on the XAU due to the weightings of these companies. But when you look at the none hedgers TVX/K etc, you see that the slide in the gold has effected the bottom line of the gold companies. So if you hedge, and make up 2/3 of the XAU, it will hold up quite well, until yields on the long bonds start to raise. Hutch. Addition: Long bonds have started to rise. So the support for the XAU should start to levant lower. But, I find it very interesting that the XAU is moving down in steps. This could be a support levels getting built on opens. So a lot of short covering could be in the making, if they haven't all already.