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Gold/Mining/Energy : Gold Price Monitor

GDXJ 87.56

-4.9%

4:00 PM EST

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To: Bill Murphy who wrote (35980)	6/27/1999 11:16:00 AM
From: Nawien Sharma	Read Replies (3) of 116751

>>Gold is a sheep commodity. The tide will change and it will be back in fashion when the stock markets get really hit which has not happened in many many years.<< The gold price is still reported in all news and publications, which is good 8^) I got pounded by others in the Barrick thread when I suggested that Y2K was a good time for a correction and hence a bump up in gold price. I was accused of stock piling food et al. which made me stop posting to that group. However, markets and money makers hate uncertainty and even if less than 1 % of business disruption occurs in the new year, the supply chain especially those that use JIT as a business model will cause some uncertainty to all of those affected. Earning for some companies is still out of whack (I am seeing PE's over a 100 for companies that may grow only 30 percent). The one thing very unique with Y2K as opposed to most wars/conflicts is that Y2K affects mainland North America. Even though North America is very Y2K ready, there is still risk and exposure. If I were a money man, I would play it safe. IMHO, I think that some money will be taken off the table in the next little while to realize some paper profits.

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