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

To: long-gone who wrote (72960)	7/9/2001 1:27:55 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116762

The gold price has become far too predictable. In fact the yellow metal's performance over the past ten months has become more like watching a grand prix. Instead of a start/finish line, gold's inevitability is that it will return to the $265 per ounce "position" before setting off yet again on a treacherous albeit accustomed course.(Joe Palooka rally) The charts show that gold has traded in a narrowish range (between $260 to $280) since August 2000 with a few brief spin-offs along the way. Little more than a month ago there was that turbo-boost through $290/oz that had eternal gold bulls in full chorus(you are getting recognition up in the crows nest). Earlier in the year mine bosses experienced testing moments when gold sank to around £256, the sort of level that, if sustained for a reasonable length of time, results in mine closures and the mothballing of expansion projects. With the precision of hindsight, had one simply bought gold shares when the metal dipped below $265/oz and closed out that position and then short-sold the metal at $272, do that a few times and the 60ft yacht in Monaco would have been long paid off. So easy to understand unless you are a thick head. Ken