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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

Nov 10 4:00 PM EST

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To: Rarebird who wrote (72796)	7/3/2001 2:25:50 PM
From: Crimson Ghost	Read Replies (1) of 116753

Agree that the Bush Administration is no more pro-gold than Clinton. All GATA's arguments to this effect are little more than wishful thinking. That said, however, there is a big difference between a strong dollar and a dollar bubble. A robust dollar is one thing, but a dollar that gets so strong that it seriously threatens the viablity of major portions of domestic manufacturing is something else entirely. And we are getting near the point where the costs of further strength in the buck clealy outweigh the benefits IMHO. BTW, we finally got decent positve divergence in the gold complex today as the XAU and HUI bounced about 2% despite a $2 drop in POG and further declines in lease rates. I doubt the gold stocks have troughed yet, but we probably are close.

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