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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: Rarebird who wrote (38515)	8/7/1999 12:28:00 PM
From: Little Joe	Read Replies (2) of 116768

Rarebird: Thanks for all of your great posts and your intellegent commentary, which I don't always agree with but find well reasoned. I am interested in your idea that that rising interest rates will negatively affect the XAU. The following was a comment you made about rising interest rates. <<Factors 1,2,&3 have moved the XAU from 58 to 67 over the last 2 weeks. But todays data caused the XAU to retreat based on its greatest fear>> My recollection is that when gold ran to 850 a few decades ago, that interest rates were also going thruogh the roof, and I guess the FED was tightening. Is my recollection wrong? Or would you say the other 4 factors mentioned in your post i.e. US dollar index, inflation data, Bond Market yields and Credit Risks and Confidence in the Sytem just overwhelmed the FED tightening, or would you say by the time the FED started tightening, it was too late to affect the price of gold or pehaps that it did affect the price of gold but it took a while. Perhaps another reason?? I would be interested in your comments. Live long and prosper, Little joe

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