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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Enigma who wrote (51419)	4/13/2000 10:19:00 PM
From: Rarebird	Read Replies (4) of 116759

First of all, I want to say that I have a tremendous amount of respect for Gold as a Currency. Gold trades inversely to the Dollar. There has been a superficial attempt by new era types over the past few years to deny that Gold functions as a Currency. I don't view Gold as a commodity like oil, which is subject to the laws of supply and demand. I view some of these CB's who are selling their Gold as Momentum Investors who are selling near the bottom. Demand for Gold cannot be represented as a linear function; it depends on the economic environment and the degree of growth that is present at the time, along with the monetary policy and the inflation rate. The NDX is down 27% from its highs. At some point in the near future, the S@P will follow suit. Bond made a very bearish reversal yesterday. What will Investors and the World turn to when the Almighty Dollar follows suit? Gold

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