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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

4:00 PM EST

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To: bambs who wrote (62387)	1/2/2001 2:42:14 PM
From: Rarebird	Read Replies (3) of 116764

<Anyone have any insight as to why gold would fall 6 bucks from the open today in NY?> That is a very good question. But the fact that the gold stocks are up here is extremely bullish and represents another buy signal IMO. A very dire catastrophic situation is now developing in the States. First of all, in contrast to many retail investors, institutional investors historically do not pay up for slowing rates of profits growth. Secondly, if these markets do not rebound this year, it would alienate American investors in the market for years to come, upset the trends of technological innovation and productivity enhancements beyond the realm of reason, and hence usher in a very gray period not only for the United States, but for a world mostly anchored by this Nation. I think the selling in Gold is due to the need for some to raise cash to avoid bankruptcy.

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