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

To: Enigma who wrote (48613)	2/8/2000 11:42:00 PM
From: Gord Bolton	Read Replies (2) \| Respond to of 116762

Enigma, you understand Barricks program as well as anyone, so maybe you can explain exactly what Barrick has done. #1 Has Barrick set an exploding target at $319? ie. Barrick buys X million ounces of gold when the spot price hits $319 We sure came close to that on Monday! #2 What happens to Barrick if someone pulls their trigger and then the POG settes back down to $270? It seems to me that Barrick now has a very big stake in keeping gold under $319 and if it does break through then Barrick would have a very big stake keeping it above...very much above that level. How does this effect all of the other players? Does everyone else in the industry set buy stops at $318...$320? All players unhedged would seek POG at $320 and all short or hedged would want POG at <$320? How does the average bonehead play this game?