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To: Ken98 who wrote (72534)	10/28/1999 6:10:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

Ken, it has nothing to do with logic...that was suspended a long time ago. as to the XAU, i think there are still worries out there with regards to how this whole hedging mess will play out. hence a run-up in gold has no effect on the XAU anymore, as people fear that the hedge book losses will be bigger than the benefits from the price rise. it's a matter of picking the right stocks largely. still, i agree that it's frustrating to see the miners not catching a bid on a rise in the PoG.