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Gold/Mining/Energy : Gold Price Monitor

GDXJ 104.49

-2.1%

Dec 8 4:00 PM EST

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To: Bobby Yellin who wrote (16211)	8/20/1998 5:46:00 PM
From: Wizzer	Read Replies (2) of 116800

re: Dollar Slumps to Three Week Low vs. Yen as Japan says it may sell US Dollars It seems, from several examples in the past few years , that the threat of action seems to be almost enough to meet government and banking objectives (I'll leave out gold for now although it applies here also). Whether the Japanese government actually sells or not, will be another matter all together. It would depend on how sustained the reaction is to this "threat". Ultimately, I believe the Japanese will sell US reserves, but probably not to extent that the market will over-react to the sale. Also recent Russian indications of using gold to support their debt and ruble, appears to be staving off what ultimately should be the fall of the ruble and the Russian economy. This should decrease the "plunger" effect on the economy and the rampant speculation of the continued fall of the ruble that was going to occur. Government monetary and fiscal policy has always influenced all the markets and commodities. However, it seems to me that these "threats" and actions seem to be more and more drastic, as the global situation becomes more severe.

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