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

To: Alex who wrote (44184)	10/28/1999 10:33:00 AM
From: Ken Benes	Read Replies (6) \| Respond to of 116762

Whatever happened in Asia, is being undone in New York. The bottom may be in, but so has the top of 340. I believe you will see a new trading range in the 285 to 310 range. That is exactly what the XAU is saying. I do not know what went wrong with the huge short position that existed a month or so ago and the covering rally. What is certain, gold was not as scarce as we were led to believe, there was more than enough to pull the rug out of the rally. It also appears that supplies are large enough to prevent a further rise in the gold price. The one certainty coming out of this past month, ownership of gold shares is less desireable than at any time in the past, the potential for making money is just not there. Ken