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Gold/Mining/Energy : Gold Price Monitor

GDXJ 142.09

+5.5%

Jan 22 4:00 PM EST

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To: Jim McMannis who wrote (42396)	10/7/1999 7:34:00 PM
From: Ken Benes	Read Replies (1) of 116900

Jim: Beyond the gold market, the dollar does not look particularly well. I am very interested in this months trade figures. The dollar is not going to weather too many reports like the one we had last month. If Novembers number is equal or worse than last month's, the dollar is going to get hit. With the hit in the dollar, interest rates should move above 6.25%. That combo is going to put severe pressure on derivatives collateralized by Treasuries. If the 66 billion dollar number needed to bail out the banks short gold is true, they are not going to have too much more wiggle room to work thru the loses in the Treasury market. Of all the things I have read on the gold boards, the ones I consider having the most merit are the ones written by the author of the Gold Pyramid. His latest writings include a world kept afloat by creative finance. The dollar is key and is not faring well. The trade numbers may be a vital key. Ken

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