Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: AugustWest who wrote (4338)	10/2/2002 11:59:55 PM
From: Peach	Read Replies (1) of 57110

Another interesting view on Gold... [Disclaimer: I am totally in cash and own no gold at this time.] financialsense.com "A Warning If gold trades above $529, without a meaningful intervention that cures the down spiral, then technically gold is destined to play its role as the final market solution to balance the balance sheet of the USA by trading at $1459 to $1700. This will only occur if there is a meltdown in the derivative market with attendant, unthinkable economic implications. The reason gold will perform like that will be the short cover of massive proportions resulting from the unfunded, specific obligation contracts, called gold derivatives melting down. Once that short cover is completed, who will pay those prices for gold? No one. Gold will decline from those levels with a vengeance only witnessed in its rise."

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