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Gold/Mining/Energy : Gold Price Monitor

GDXJ 147.31

+2.1%

4:00 PM EST

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To: Edmund Lee who wrote (65756)	3/15/2001 1:31:33 PM
From: teevee	Read Replies (2) of 116927

Edmund, You are 100 percent correct for the people of G-7 countries. Thanks But for people of number 8 to number over 100. Gold is the most reliable asset they can hang on. Tell your theory to the Turkish people now and you get stoned. I would argue that the best way to protect oneself against currency devaluation in any non G-7 country is to hold US dollars-THE international currency. Gold would be a poor second choice. Gold does work but only because it is priced in US dollars as most other commodities are. In global economic downturns, those in third world countries who hold gold likely have to sell it in order to buy groceries etc. This just adds to the selling pressure on gold.

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