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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: BGraham who wrote (65336)	3/11/2001 12:14:03 AM
From: Claude Cormier	Read Replies (1) of 116764

I have no idea where rates will be Monday. But the momentum is strong so they could continue upward. They spiked at 9% in 1999 in the same week gold moved abvoe $325. But back then, rates had been moving steadily upward for 3 months from the sub-1% level. kitco.com If rates duplicate the pattern they had in 1999, they will be way up into the double digits levels and peaked with later this summer when gold makes a intermediate high near $350. But that is a big if. At this point, the only think we can say is that somebody big is buying gold and causing some imbalance. This could be enough to wake up the would-be gold investors. And you know we don't need a big shift in demand to reverse definitively the long term trend. No matter what, I think gold will go above $300 this year.

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