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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.34

+3.7%

Jan 5 4:00 PM EST

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To: goldsnow who wrote (4260)	12/14/1997 4:05:00 PM
From: Traveling Man	of 116842

AuSnow, Some believe the total confusion uncertainty over the coming Euro currency is causing the continued upward spiral in the greenback. For instance, who is going to buy a European long bond when the currency it's denominated in vanishes a couple of years from now? $ is flowing to US because where else right now do you invest when many other currencies are looking very weak? The C$ and Asian currencies look weak and there isn't a big choice for intl. investors other than the $. This MIGHT explain the continued strength in the US equity markets as well. It doesn't explain the weakness in gold,of course. You would think some of this "uncertain" money would flow to gold. Above someone asked about Canadian central bank gold assets. They sold almost every oz. by early 97 according to Adrian Day. TM

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