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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (3309)	1/17/2003 9:32:32 AM
From: Enigma	Read Replies (1) \| Respond to of 3558

Russett - thanks for another very good post. Perhaps what this market needs is the feeling that these higher prices are really here to stay. Some time ago Erik C. posted a very long term gold chart, priced in 1997 dollars I think. You could see that even a 50% retracement from the all time high would have gold at 600-700 (from memory). People forget that gold has in effect been forming a very long term base - over 20 years - so these higher prices are being viewed still as a short term phenonimum. It seems to me that Barrick has quite an inventory of large deposits which could come out of being mothballed once these higher prices become accepted and believed.