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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Ray Hughes who wrote (1231)	6/24/1998 2:46:00 PM
From: Bill Murphy	Read Replies (2) \| Respond to of 1911

Ray, For me it comes down to this. If we are right and the natural supply/demand deficit is much bigger than most think, say 1400 tonnes, and the CB's went to net neutral, the price of gold explodes. If we are wrong, then what you are talking about will hurt the price of gold as you say and we diddle for a long time. One question. How can the Fed sell gold without an act of Congress or official Presidential approval? And if they are trading it from the short side, they have to buy it back. Bill