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Gold/Mining/Energy : Gold Price Monitor
GDXJ 126.30+3.6%Jan 12 4:00 PM EST
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To: John Barendrecht who wrote (555)7/16/1997 5:29:00 PM
From: Richnorth   of 116853
 
Even though there are good reasons to believe that gold will not go below $300, it is very possible that the yellow metal will drift to as low as $285. One of the reasons is that a number of major mining companies can produce gold at about $200 and still be able to realise a profit. Another reason is that the governments of European countries will be in cahoots to make gold unattractive vis-a-vis the new Euro dollar making its debut by 1st January 1999. And very likely, both the US and Canada will lend a helping hand to make the Euro dollar successful.

The fact (or trouble) is that in the current economy of the West, Cash is King and bonds are now considered a safe haven and an efficient hedge against inflation. Only when cash and bonds eventually become passe (who knows how long this will take?) as stores of value will gold have a chance to make a glorious comeback ------ A Second Coming!!!

So, in the meantime, lotsa manipulators and speculators will be in cahoots to drive the price of gold down for their benefit.

BTW, the URL worldaccessnet.com discusses reasons for gold going to as low as $190. (You will have to scroll down to the part for commentaries on gold price, stocks etc).

Richnorth
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