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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 443.45

+1.4%

4:00 PM EST

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To: TheBusDriver who wrote (45)	8/19/2003 11:37:50 AM
From: The Vet	Read Replies (1) of 29622

Wayne, different currencies are quoted in reverse and can be confusing. USD/RAND is now about 7.38 (the normal way to quote this pair) so the lower the number the stronger the rand relative to the USD. USD/CAD is also quoted the same way so it takes 1.4 Canadian dollars to buy one USD. The lower the number the stronger the CAD relative to the USD. However.. AUD/USD is the normal way to quote the Australian dollar so at the present time the rate (quoted 0.655) means one Aussie dollar buys 65.5 US cents. The lower that number the weaker the Aussie dollar relative to the USD. Similarily... EURO/USD is quoted the same way as the Aussie dollar (Right now it takes USD$1.109 to buy 1 Euro ) The higher the number the stronger the Euro when compared with the USD. Now this might seem simple but I am amazed how many people will invest in currency affected issues without even knowing which way is UP! As a general rule for gold stocks. Gold is quoted, bought and sold in USD. Most expenses are incurred in the local currency where the mine is located so the stronger the local currency the lower the profit of the mining company on their mined gold.

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