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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.81+0.9%Nov 19 4:00 PM EST
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To: SliderOnTheBlack who wrote (74805)8/10/2001 6:49:55 PM
From: Zardoz  Read Replies (1) of 116762
 
Simple Question {no such animal}
Given the reality of the Catch-22 situation with the US Dollar; I can't recall more positive scenario for the rise in gold in the last 15 years ? ...so why so negative ?

They in lies the catch-22. Gold may be priced in US Dollars terms, or Euros; but gold has never been correlated well to the US dollar. It's the world's producers of Gold that drive the price of gold, and thus is related to the currencies of those countries & companies home offices that produce such Gold. It's the Economics of the USA that modulate the Price of Gold, and it's the cross exchange rates that fluctuate the spot and futures. If you DO believe the US Dollar is finished, buy Gold. BUT if you believe that something else is occurring in the US Economy, then a buying of gold is a worthless adventure at this time. A year ago, I speculated the Fed Feds rate would hit 3.5%, and I still say it will. In 98 after the Asian contagion & US Fed Rates dropping, I said that Greenspan reinstated the boom-bust cycle. If you've been partying up till now, and believe that economics have shifted to political meandering, buy Gold. The G7 have been manipulating currencies for at least the last 6 months {that is evident from the Yen and Euro going against supported economical trends}. Don't also forget that the CAD and AUSSIE bux's plays a large roll in the Price Of Gold. So be warned. Buying Gold now could prove to be a false rally. After all, do we not expect every commodity to make a double bottom? Where's the double bottom?
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