Tell us what''s going on at Fort Knox


12:10a EST Saturday, December 18, 1999

Dear Friend of GATA and Gold:

Here's the latest gold prognostication by Steve Kaplan
at While he has been wrong
forever on the general equities market and particularly
our mutual favorite, EBAY, he picked the recent top in
gold almost to the minute, so you may want to pay
special attention to this, which echoes what GATA
Chairman Bill Murphy wrote in his "Midas" commentary
last night at

Gold Anti-Trust Action Committee Inc.

* * *

From Steve Kaplan's

Friday, December 17, 1999

My current outlook has been raised yet again and is now
MODERATELY BULLISH for gold and its shares. Commercials
are once again net long COMEX gold futures, having
shown significant accumulation when spot gold dropped
below $280. Moreover, the lower that gold drops, the
less potential downside that remains. This may not be
the most emotionally satisfying reason for being
bullish but the mathematics is compelling. On Friday,
December 17, the XAU modestly underperformed the price
of gold on a rally day. The XAU closed above its 200-
day moving average for the first time since December 7,
which is bullish.