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

To: Alex who wrote (39580)	8/25/1999 8:49:00 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116835

Two weeks ago amidst all the euphoria that pay day was near for the gold market, I wrote that a positive outcome was unlikely. This was based on a likely turn of events including producer selling. Apparently this has happened. One of the main contributors to the decline in the price of gold has been the mismanagement of the producers. There inept handling of the paper trade in gold will also circumvent any meaningful rally in the price of gold. Last week, there were chuckles when GS called the producers urging them to sell because the price of gold was headed lower. Not only has the price rally ended, but we are headed for new lows. Ken