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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (18823)	8/30/2003 8:20:47 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 39344

russ, I do not know who is buying gold and what commercials are short gold. If I owned a mine, have inventory and happy with delivery at the current price of gold, I would sell in the futures market and lock in profits. A good management team would take profits that would keep the company financially healthy and give them the capital to find or buy reserves. I am quite sure these commercial contracts require delivery when covered.

To: russwinter who wrote (18823)	8/31/2003 1:16:56 AM
From: Little Joe	Respond to of 39344

<I'm specifically addressing the HUI here, as I don't own either physical gold or XAU (large hedged majors, i.e insurance companies). HUI represents in general the kind of leveraged to gold issue I either own, have sold or will sell. To me this is now "going parabolic" or very very close to it. In otherwords the next move up if it occurs quickly and without a nice pullback or consolidation, hits my "serious parabolic" definition, but certainly readers can decide for themselves;> I suppose one man’s definition of parabolic is another man’s solid up trend. Nonetheless I don’t think we are going to see a collapse in the HUI stocks which is not accompanied by a collapse in gold and the XAU. Also most of your other arguments relate to the price of gold, which is by no means over bought or parabolic. I am not knowledgeable enough regarding the eurodollar market and correlation on liquidity to understand your analysis of the fed funds and euro markets. I can’t dismiss them, but I don’t understand or perhaps appreciate the significance of them. Little joe