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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (166538)	5/17/2002 5:34:49 PM
From: Joan Osland Graffius	Read Replies (4) of 436258

patron, >>The wacky thing is that gold was UP for the week, despite the NazRamp. I agree - there are some cross currents that do not make sense these days. Is gold signaling anything? We are having consolidation and elimination of hedges in the industry as well as relief from central bank selling. Gold could be trying to find a natural supply/demand price. If gold is a proxy for inflation then the equity market should be retreating like heck. Or is gold being used as a vehicle by investors to protect purchasing power because of falling currencies or in the case of Japan protection of their cash assets. If this is the case then money should be coming out of someplace to support this price in gold? Maybe US treasuries???? The US treasuries are retreating and the dollar is falling which makes sense. It makes no sense that money is chasing high priced equities with the movement of capital that is occurring at the moment. Am sure this all will become perfectly clear down the road apiece. <ggg> Joan

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