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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (93783)	8/15/2001 2:14:28 PM
From: Frank Pembleton	Respond to of 95453

Daily Gold Market Commentary August 15, 2001 Yesterday’s London a.m. fix $274.10 Yesterday’s London p.m. fix $274.50 New York spot close $275.10 - $275.60 London opening $276.30 - $276.80 Welcome to our new daily market commentary, a service that we hope you will find informative and useful. kitco.com

To: Frank Pembleton who wrote (93783)	8/15/2001 2:19:09 PM
From: Roebear	Respond to of 95453

Frank, I'm no expert on lease rates, though I watch'em. What I've noticed is some disconnect with the POG lately, and that sometimes in the past the longer term rates lead instead of the shorter term rates. One explanation I've heard is that a recent lack of forward selling by miners can induce these conditions. Like a junkie, the shorts have to have their fix. However, I do not know if that is true or not and would be glad if someone else could educate me on their behavior lately, the lease rates that is, not the junkie shorts, ggg. Best Regards, Roebear