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

To: Enigma who wrote (92570)	1/8/2003 11:25:30 PM
From: E. Charters	Read Replies (2) \| Respond to of 116790

Except for on highly publicized hedge fund, American Barrick, most hedgy mining golders are not likely to benefit so much as to lose out on a gold price rise as they are already sold forward to the hilt. Smallish companies looking to do gold loans to finance (I know of a couple) may get a boost. To say that gold mining companies in the mid tier and above do not welcome this price rise is naive. Gold explorationists are in a heady mood. The producers hedged forward 5 years, or more that have already seen a climb out of the basement in the past 2 years, were not expected to go straospheric. They have had 2 years to discount to beat the band on long running expectations of reaching these prices. Gold mining stocks not vaulting to the heights on this POG move does NOT signal that "shares are signally gloom to come". Gold is moving on its own. The shares lack of evaluation of POG does not mean that gold is weak, it means that the companies have had a run and must gather more steam. The share price does not believe the POG yet. but the share price of producers is not the font of gold wisdom. eC<:-}