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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.87

+3.6%

Dec 11 4:00 PM EST

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To: The Fix who wrote (3320)	11/27/1997 12:37:00 AM
From: John Barendrecht	Read Replies (1) of 116812

Mr. Fix, my only reason for buying Maple Leafs is tax. One buys coins for the gold. Why pay 7% more. Also, since the apartheid thing fell apart, Krugs are out of favour. Gold bars (even 1 ounce) are cheaper than coin but as I stated previously, coin may have advantages in mobility (from country to country). As for the Asian currency crunch - this will spread to Canada and US. Their exports will be much cheaper, forcing NA companies to hold line on prices or lower them. Voila, less profit, lower stock price. The other alternative is to devalue US dollar (i.e. higher price for gold). Personally, I still betting on higher gold prices and keeping my eyes open for bargains. Have done sporadic buying (gold stocks) but will buy more - probably before year end.

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