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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: jrinvestor who wrote (75674)	8/29/2001 11:50:37 PM
From: Rarebird	Read Replies (3) of 116764

Second-quarter GDP was revised down to a 0.2% annual growth rate from the original estimate of 0.7%, beating consensus forecasts that argued growth would come in at zero. The October fed funds futures contract is still pricing in a 70% chance of a quarter-point rate cut at the October Federal Reserve meeting. Once again, the consumer was the economy's saving grace. According to this morning's data, consumer spending grew 2.5% in the second quarter, up from previous estimates of 2.1%. This morning's GDP numbers also showed that inventories were liquidated at a faster pace than most were first estimating, suggesting that future new orders are more likely to be filled by new production rather than old production. This augurs well for third quarter GDP growth rate.

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