Gold -- the eternal short? Message Board

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Strategies & Market Trends : Gold -- the eternal short?

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To: rch who wrote (43)	4/29/1997 3:43:00 AM
From: Keith Zhang	of 114

hi rch, what you said is what I heard many times from gold bugs which have convinced me enough in buying gold this year, only to see it going downhill. I am no longer convinced now about the substantial deficit of gold you talked about. What about mining company's forward selling, the central banks selling (they have huge reserves of gold)? Also about inflation: there IS a real excess of worldwide production capacity - vast cheap labor in third world like never before, slow economy in Europe and Japan, and MR. you-know-who of Fed determined to kill inflation before it happens. So IMO, inflation won't be a factor for a gold rally, at least not this year. The only hope for the gold is the currency crisis, some events like Mexico crisis in 1994, which could happen somewhere like Thailand, South Korea, Japan... Just my 2cents. a disappointed gold investor

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