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Strategies & Market Trends : Gold -- the eternal short?
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To: Alan Whirlwind who wrote (42)4/28/1997 11:30:00 PM
From: rch   of 114
 
There is still a substantial deficit between what is produced and what is consumed and a further deficit is predicted for next year. The fact that gold broke through a support and retested the previous low is an indicator of more weakness for awhile but the factors that will drive gold up are still in place. This is an extreme position in the market right now and there is a substantial mismatch between the underlying economy and the publics perception of the economy. It is being accepted as fact that inflation is dead and that we are in that wonderful period, a steadily expanding economy without inflation or deflation, and a rising stock market which will have periodic corrections and then move on. People are actually taking their gains for granted. Get ready we are in for a wild ride when all this unwinds.
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