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Strategies & Market Trends : Ask DrBob

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To: bcrafty who wrote (45784)10/11/2001 12:13:47 PM
From: JoanP  Read Replies (2) of 100058
 
bcraft, James Fleckenstein on gold dated 10-10-01:

"Away from stocks, fixed income was flat. The dollar was higher against the yen and the euro. Oil was pretty much a non-event, up a nickel. Once again, the metals were weaker (with silver down 3% and gold down a little over 1%) as Johnny-Come-Lately longs to the futures market are being shaken out. With respect to both silver and gold, this potentially sets up a wonderful buying opportunity in the not-too-distant future. On a handful of occasions over the past six months, I have been pretty constructive on the metals. It seems that an investment demand is showing up at the margin. We are getting down to the tail end of central bank selling, and the supply and demand situation is getting more bullish. For whatever it's worth, I am looking for another chance to add to positions in metals somewhere over the next few weeks."
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