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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: jrhana who wrote (1200)12/26/2003 12:55:38 PM
From: Wade  Read Replies (1) of 48092
 
SA is a resources rich country. This is the major reason why the currency speculators took the opportunity to run Rand upward, which caused big export and profitability difficulty at the current situation. SA had very high interest rate (>10%) for bank deposits to balance their big inflation problem. Now, their banks lowered the rate significantly to reduce the money flow into Rand. This process devalued Rand by about 6% during last week or so. I expect to see further reduction of their interest rate and weaker Rand in the next month. all of these changes will reduce the cost of production of gold and other minerals. Therefore, these stocks are going to catch fire if Dollar/Rand ratio rise to 7.5 to 8.5, which should be the mid-term target. James Turk think the ratio will continue to rise which will further boost the value of SA golds. Good luck.

Wade
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