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Gold/Mining/Energy : Gold Price Monitor

GDXJ 130.35

+0.4%

Feb 4 4:00 PM EST

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To: TheBusDriver who wrote (67530)	4/11/2001 3:25:20 PM
From: Hawkmoon	Read Replies (1) of 116970

Wayne... The european businessmen realize that their economy is weakening in the face of a US slowdown. They seem less confident of being able to operate at current interest rates set by the ECB, thus they devalue the currency. Sure they pay decent interest rates which one would think should support the strength of the Euro, but with the dollar soaring, costs for energy will rise disproportionately for Euro based economies, adding additional pressure. This is the problem with having an economy so heavily dependent upon US export markets. The US Fed, it would seem, is waiting for the ECB to take the lead in lowering rates to spur their domestic growth and consumption. At least this is how I'm deducing the reaction. Regards, Ron

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