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

To: d:oug who wrote (57812)	9/2/2000 2:32:38 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116815

I agree with you that the efforts of Gata are laudable. However, I believe they are going to be thwarted by the bankers who still have a considerable amount of ammunition to fire at the market. Whether the producers can or cannot employ any of the actions that I have listed to improve the price of gold is debateable. What can be said with a higher degree of certainty, the producers having leveraged themselves to the bankers do not have the resources or the independence to take actions that will positively effect the price of gold and their own financial health. Believing this to be true, I am skeptical of a sustainable rally in the gold price and I believe that the investment community views the gold market in the same way, which is manifested by the dismal performance of the xau. What is more striking, the xau has not displayed any predictive capacity by leading the price of gold higher. In fact, the xau has been a pathetic follower of any rally in the pog and quickly gives up any gains the moment the rally appears to stall. Ken