GOLD 0.51% $1,391.7 gold futures

Gold squeeze to continue

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    VANCOUVER, Aug 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- Placer Dome Inc. announced today that it is reducing the level of its committed ounces by 20% from the 8.5 million ounces of gold reported as at June 30, 2002.

    As more companies reduce hedging the bank cartel (JP Morgan and others) are becoming more exposed.

    If USA has a spat at Iraq ot the economy faltersany more expect a $20 uplift in a single day.

    Al; USA gold stocks have began a new uptrend-momentum should build for another 10-15% uplift in prices.

    This is good news for KCN OXR the emerging Aussie gold producers
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