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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.93+0.8%Jan 9 4:00 PM EST
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To: Square_Dealings who wrote (74674)8/8/2001 7:52:33 PM
From: t2  Read Replies (1) of 116845
 
Heads up, looks like the Fed is pumping the 10 year notes today on the day of the auction. Extraordinary action to be blatantly pumping em up before the results are out. Looks like no one showed up to buy them so they are pumping money in as fast as it can be printed today. Results out shortly.

Bottom line is the Dollar is Doomed.

Bonds have been doing well. I don't see inflation worries as a strong case for Gold in the near.
However, the uncertainty over the dollar could see a change in the demand/supply of gold. Those who had bought the US dollar as a substitute for Gold may be changing their strategy just a little bit...and that could be all that is needed for a spike up in Gold price.

Weaker dollar means higher gold prices as well a possible increase in demand in emerging economies if the price drops a bit---an analogy would be how Intel cutting CPU prices can stimulate PC demand. I don't see how it would be different if the dollar starts weakening...of course the market will anticipate all of this and react well (higher gold prices) in advance of it actually happening

(who knows the dollar could stay strong but there will be more who want to hedge their bets with gold than in years past).

jmho.
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