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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: Crimson Ghost who wrote (59506)	10/7/2000 1:15:01 AM
From: Rarebird	Read Replies (1) of 116764

The rampant bullish prognostications by many on this thread in the face of continued new all time lows in the XAU is a very bearish omen. This obstinate bullishness flies in the face of all fundamentals and has no basis whatsoever. It is based on the false thesis that the dollar will decline along with the equity market here. I think the equity market has to fall quite a bit more before the dollar follows suit. Even that may not help much as the US economy stands to still remain the strongest economy in the world during a global economic downturn. If investors/traders/money managers were convinced that a hard landing was imminent and that inflation was going to soar, they would not be pushing the XAU to new all time lows here. Gold is in a very tough position here. I wish I could be less bearish and even bullish, but I don't see a sustainable rally yet.

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