VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: mt_mike who wrote (52071)	5/25/2002 5:26:25 PM
From: t2	Read Replies (1) of 65232

The pullback in gold comes if the US$ index stays above approximately 112, the same level it hit back in September 2001. At this point, I think the gold move is done for the very short term simply because dollar might have found short term support. However, if the dollar drops below 112, we could see some serious short covering in gold stocks, fueling another leg up. IMHO, it mostly depends upon the dollar at this stage. Easing India/Pakistan tensions may lead to a weaker dollar as well. World tensions (outside USA) have in the past inflated the dollar although we have seen serious cracks in that theory in the last couple of months--worth watching.

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