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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Zardoz who wrote (40006)	9/3/1999 12:45:00 PM
From: Enigma	Read Replies (3) of 116796

The Canadian Gov't as you know has been selling gold since the 70s. The Canadian dollar has been the pits for a long time now - whether its lack of gold reserves has anything to do with it who knows. It's a matter of opinion as to whether it has done the right or wrong thing. Just as the B of E may be doing the very wrong thing just now. My own feeling is that had the Can gov't kept its gold reserves at previous levels or bought more we would have had a far stronger currency - but they have decided long ago that they won't defend the currency. The idea being I guess that exports are more important than anything. Canadians are poor when they travel abroad - or compare their earnings with people in other western countries. But we're a complacent and apathetic lot. For Europeans, visiting Canada is like visiting a third world country - things are so cheap. d

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