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Gold/Mining/Energy : Gold Price Monitor

GDXJ 147.42

+2.2%

Jan 27 4:00 PM EST

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To: E. Charters who wrote (91209)	11/17/2002 5:06:25 PM
From: RealMuLan	Read Replies (2) of 116927

I am speaking for most of young and relatively young Chinese who are in Mainland China now. Gold is NOT as important and attractive as a big house, nice car, and fancy electronic toys. for the super rich, they can afford both, but for the most people, they have to choose, and they would choose things rather than gold. So if you are counting on oridinary Chinese to store up the Gold, you might be disappointed. Having said that, if the Chinese gov. switches more gold-backed foreign reserves rather than what they are having now -US dollar backed, that would boost the gold market a lot for sure. Chinese now trust RenMinBi (Chinese Currency) a lot and it also getting accepted in quite a few Southeastern countries now. I would say in the next 50 years, RenMinBi may just preserve better value than US $. one will never know

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