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

To: Jim McMannis who wrote (43518)	10/21/1999 5:36:00 PM
From: Ken Benes	Respond to of 116764

Jim: Either the market does not believe that the recent move in the gold price is for real or they are not confident that the producers will be able to act in their best interest and limit production and forward selling. The announcement by Neumont of a production increase next year was ill timed at best. The gold market is at a critical juncture just looking for an excuse to go down. Neumont provided a bit of fuel for that fire. There was absolutely no reason for a public announcement of a production increase. The same could be said for Kuwaits announcement of moving gold to a wharehouse facility outside of the country. You could make an easy inference that this was a logistical move to position bullion to be easily transferred thru a leasing program. They did mention the gold would remain on the books. At this point in time perceptions are everything and gold is very close to a price that would trigger sell stops and create and even larger perception that gold is being liquidate. "End of Rally" Ken