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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Alex who wrote (53355)	5/29/2000 5:02:00 AM
From: PaulM	Read Replies (1) of 116764

SOUTH AFRICAN RAND SLIPS TO NEAR REOCRD LOW "The rand's volatility follows Thursday's slide to a fresh record low of R7,20 to the dollar, hit by a combination of fresh concern over developments in Zimbabwe, inflation fears and euro weakness." mg.co.za Alex, I think what all this boils down to is that the coming dollar slide/euro turn around (and come it must) will change everything. Gold won't immediately benefit from a weaker dollar because there is a great deal of pressure to keep gold lower in dollar terms. But once the dollar falls, physical offtake at the lower dollar price will result in a liquidity crisis of the type we saw last fall. My best guess is that all this happens in the next three to four months.

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