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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: E. Charters who wrote (85749)	5/23/2002 11:15:08 PM
From: marek_wojna	Read Replies (1) of 116837

<<Don't know what to make of it.>> Things will quiet down. There was too much talking about dollar slipping. Gold will have the rest for a while, Japs cannot lower down interest rates anymore but they can print and buy another print. As long as everything looks good on paper (which is very patient) people see better times (goverments too). IMO world will be willing to accept US trade deficit even if it pass 6% of GDP and the reason is simple - lack of alternative except gold which is bought out of CBs vaults at the discount. The big buyers are not interested to buy it at $400, at that price they will start selling it, but as long as they know there is lot of it in the vaults I hardly can see POG keeping above $325. Some kind of disaster, war, chapter 11 of major institution might trigger pessimism in human beings and than when you compare amount of paper printed to gold mined in the past 20 years, sky will be the limit.

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