Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (14849)	2/11/2002 9:55:07 AM
From: Ilaine	Read Replies (1) of 74559

Maybe American economic conditions are not so important to the price of gold. Japan seems shakier than ever. We could have war with Iraq some time this year. Heard something strange on NPR's Market Watch last week - banks in China are a disaster waiting to happen, worse than Japan but a better kept secret. None of which would be that big of a disaster in the US but would be disastrous where they happened, so Japanese, Chinese and Middle Easterners are buying gold. Foreign exchange gives me headaches but apparently depending on the currency gold has been a better deal in other countries than in the US. If any currency is being manipulated, my guess is the South African Rand. The rand is one of the most undervalued currencies in the world - which makes labor in South Africa cheap, which makes gold production cheap. If the rand returned to parity with the dollar, gold production would be much more expensive. Which would make the cost of gold go up. Would that also make the price of gold go up? Or does it work the other way - if the price of gold goes up then the Rand goes up?

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