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Strategies & Market Trends : Fidelity Select Funds
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To: Julius Wong who wrote (727)12/10/2003 11:39:18 PM
From: gregor  Read Replies (1) of 5019
 
Julius: liquidation of horde by Goldcorp, Inc will not stem the rise of gold, neither did the massive liquidation of the metal by central banks in past years stem the rise. Liquidations are met by a much greater demand of the hording public.
I was talking to a large dealer three weeks ago in Pigeon Forge Tennessee and told him that I had some rolls of uncirculated Morgan dollars. I had bought them about 20 years ago for 7 to 8 dollars each. On the spot he offered to give me 400 dollars a roll or 20 each sight unseen. He said that he could not keep up with demand and could sell all that he could get his hands on i.e. that demand was that high.
The dollar is going much lower in light that the feds have reiterated again that they will not be raising interest rates until middle next year and the price of the gold will continue to rise. Look for silver to make a late catch up charge....gregor
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