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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (30943)2/19/2002 1:18:05 PM
From: LTK007  Respond to of 99280
 
<Gold price was tanking but looks to be coming back a bit.
Are gold stocks generally supposed to go against the market? Down today.> Gold was quite oversold and plus there is a huge short position fighting for it's life now regards POG.If the shorts ever lose their grip on Gold,watch out,they have been holding Gold down for years.



To: t2 who wrote (30943)2/19/2002 2:06:01 PM
From: LTK007  Respond to of 99280
 
here's why---<<14:03 ET Bond Ticker : The gold plunge has come in the wake of comments from Bundesbank President Welteke, who said that Germany wants to "slowly" sell some of its gold to move into assets that offer a return beyond potential capital appreciation. Note that the Washington Accord of 1999 limits gold sales by European central banks to about 400 tons a year... The Gold and Silver Sector Index (XAU) has traded off 3.9% on the session.>> from briefing.com


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