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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: IngotWeTrust who wrote (91763)	12/12/2002 5:29:43 PM
From: Hugh A	Read Replies (3) of 116845

GT... A check of news articles on today's POG surge attributes it to everything from Iraqi sale of WMD to AlQ to North Korean plans to restart its nuke facility. None of these dealt with the hard drop in the USD which is the most likely cause of the spike up (USD Index dropped 0.7 points by noon, POG rise was simultaneous). For the moment, USD Index governs gold price. USD Index has shown remarkable resilience at 104 so I have to agree that we shouldn't hold our breath waiting for $350 BWTFDIK. Howerver, once the fed starts up the printing press in earnest - to da moon, baby! Hugh A. Got gold.

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