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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Haim R. Branisteanu who wrote (63182)	11/27/2000 6:25:45 PM
From: Zeev Hed	Read Replies (5) of 99985

Haim, two years ago we had a financial crisis in S-E Asia, and one would have expected then some run on gold, it did not happen. I am not sure that dismantling of the Euro will cause it (won't they have to sell some of the gold the Euro holds, or is it held by each of the nations under the Euro?). A sharp decline in the dollar, might do the trick, but I must agree with you that any such action would be accompanied by reduction in industrial and jewelry gold demand. Oil tripling did not cause gold to rally, I really do not know what else could (g). Until we see massive closing of gold production (because the price is so low that it is no longer profitable) or massive decline in the dollar, I do not expect to see a major rally in Gold. Zeev

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