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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (11670)2/24/2001 9:42:44 AM
From: Crimson Ghost  Read Replies (1) of 30051
 
Zeev:

My XAU take is quite different. Flight from tech not the main reason for the bounce. If that was the case the XAU would have sold off when the market bounced, but it held most of its gain. Gold stock strength reflects the surge in lease rates and rumors that some CBs will soon curtail lending -- a key force behind the big gold bear. The prospect of a significant drop in the dollar as the Fed continues to cut also is a big factor
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