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Gold/Mining/Energy : Gold's Six Month Base Near Completion -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (70)	6/9/1998 5:23:00 PM
From: bob k	Read Replies (1) \| Respond to of 94

Bill, What's your opinion of the EURO announced percent @ 10 -15% vs the somewhat expected 20 -30% backing. Did you factor this announcement into your calculations? Is this % what you expected and if not, does this change any of your forecasts or immediate expectations for the POG? Best regards, Bob

To: Bill Murphy who wrote (70)	6/9/1998 5:52:00 PM
From: KAZHAK	Read Replies (2) \| Respond to of 94

Bill, More big option volume in ABX, and the XAU. None of the big call buyers closed their earlier established positions, despite the 'news'. Someone sold 500 XAU July 65 puts as an opening position. The june and july 20 calls in ABX were active. Does Merrill Lynch have a vested interest in keeping the PMs down? They are constantly saying how silver and gold will continue down, and even spread that false rumor a month ago that Warren Buffet was selling his silver. Is this because they have pioneered the metal leasing market, and they are protecting the firm's and big clients positions?