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Gold/Mining/Energy : Gold Price Monitor
GDXJ 128.07+0.7%Jan 16 4:00 PM EST
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To: Ken Benes who wrote (42296)10/6/1999 11:13:00 PM
From: Jim McMannis  Read Replies (3) of 116894
 
Ken,
It appears there are two schools of thought here. The majority one is that gold is going up and there is little AG or the Central banks can do about it. The minority view is more ours, that the AG and the CBs will do what they have to to stabilize financial markets. Certainly the stockpiles of gold that the CBs have will continue to overhang the
gold market. Sure they have said they won't sell and the gold market has adjusted but the potential "to sell" or cheat still remains. So at best I see a slow, saw toothed increase (with volatility) in the gold price as it climbs this wall of worry. The worst case is they will start to sell and I wouldn't be surprised if AG tries his usual "talk it down" routine.
JIm
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