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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: Bobby Yellin who wrote (40569)	9/21/1999 4:22:00 PM
From: goldsnow	Read Replies (2) of 116770

Now I am just curious if BoE sold gold to buy dollars or yens and in what proportion? <VBG> A falling dollar increases the risk to non-U.S. investors that they will lose any profits through currency depreciation, decreasing the attractiveness of dollar-denominated investments. Foreign Ownership The U.S. stock market was valued at $15.9 trillion at the end of the first quarter, of which 7.6 percent was owned by non- U.S. investors, according to Federal Reserve flow of funds data. Investors may also be beginning to abandon U.S. securities for better returns in Japan. The Nikkei 225 Index has returned almost 41 percent this year when adjusted into U.S. dollars while the best performing U.S. index, the Nasdaq composite, has gained just 29 percent. ``It's a question of international investors who have been under-represented in Japan' now buying in that market, said Edmund Cowart, a portfolio manager at Eagle Asset Management Inc. in St. Petersburg, Florida, which oversees $6 billion. ``And in order to buy Japanese stocks you have to buy the yen' and sell dollars. quote.bloomberg.com

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