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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.88

+4.2%

Dec 9 4:00 PM EST

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To: pater tenebrarum who wrote (53929)	6/8/2000 11:48:00 AM
From: Rarebird	Read Replies (1) of 116801

Heinz, yes, gold has been correcting its magnificent advance to over $800 for the past 20 years. That long term chart of Gold that David brought out clearly shows that the decline over the last 20 years is indeed a correction in an overall bullish trend. I expect Gold to take out its 1980 high easily sometime this decade. I began investing during 1982 when just about everyone hated equities. The parallel with the Gold Market today is quite striking. Even some of the Gold producers have become spooked and bearish on their own commodity. Leadership is lacking in this sector. What comes around goes around. Equities are not as invincible as most people think. Sometimes it takes 25 years to recoup losses. After a 20 year decline, a strong catalyst will be needed to set off a bull market in gold. At some point, the economic cycle is due to turn strongly in gold's favor.

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