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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: Rarebird who wrote (72685)	7/1/2001 2:26:40 PM
From: baystock	Read Replies (1) of 116791

<The more interesting question (rather than elaborating on all the manipulations that take place) is to determine when the financial powers in the U.S will lose control and the POG will be able to trade freely. My gut feeling is that we may not be far away from this occurring. I think for Gold to enter a Bull Market will require a recognition that far from there being an economic recovery in the second half of this year, > I agree with you that it is not interesting anymore to debate whether there are manipulations going on. Gold will enter a Bull Market when investment demand overwhelms whatever selling is out there. A good leading indicator for investment demand in gold is the gold mining shares, which have been in a bull market for over 7 months now. Unlike the gold bullion market, the gold share market is not distorted by jewelry demand or central bank selling. A 5 year chart of the HUI shows this current rally in the gold shares to be the most significant by far, and clearly not just another bear market rally. As you have called it several times, this is a bull market in the gold shares, and in my opinion it is projecting a bull market to come in gold bullion. Also I find myself to be in disbelief of this bull market in the gold shares, and keep expecting a correction to wipe out all the gains. I have taken some profits in my gold shares and have to fight the strong temptations to sell out. I didn't have this problem during the past bear market rally's, such as the one in 1999, which my emotions told me was the start of a bull market. So I offer myself as a contrarian indicator, as further proof that we are currently already in a bull market in the gold shares and that a bull market in gold bullion is around the corner <g>.

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