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Gold/Mining/Energy : Gold Price Monitor
GDXJ 105.33+5.2%Nov 26 4:00 PM EST
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To: Patrice Gigahurtz who wrote (37380)7/20/1999 1:07:00 AM
From: Rarebird  Read Replies (1) of 116770
 
Patrice, I think the POG has been trading "in Dread" since it broke $270 an ounce. Everyone is looking for a bottom; but the Truth is that a bottom is not in place yet.
I don't think the UK is concerned about a PR problem. The UK couldn't care less about the impact of its sales on the South African Economy or on the Gold Mining Industry in general.
Other countries have indeed sold gold in smaller amounts over a period of time, without announcing it well in advance, just as other countries have bought. It's an ongoing process.
Sometimes, it doesn't pay to follow a sector or a stock so closely on a daily basis. You can get dizzy and nuts trying to make sense of the daily or weekly price movements.
Unless you are in short term options or your a day or weekly trader, it pays to have an intermediate or long term vision of where the stock will be in 3,6,9 or 12 months prior to buying it. This way you reduce the anxiety and don't get whipsawed. It's a lot better on those capitol gains taxes to sell after a year too. :)

PS I think by Dec 1, 1999, Gold will be well NORTH of $300 an ounce. My guess would be at least $320 and probably $350. I see over $400 in the year 2000 at least. But lets find a bottom first.
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