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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Crimson Ghost who wrote (17570)12/3/2004 6:32:20 PM
From: mishedlo  Read Replies (2) of 116555
 
Gold stocks up just a tad today despite 5 buck jump in POG. Does the smart money feel today's jump in gold and dollar plunge will soon reverse with a vengeance?

Good question fillmore.
I am unconvinced that gold miners will follow much but Heinz is possibly looking for a blastoff in POG itself. Perhaps miners double top as gold blasts off. Then again, there are no guarantees gold heads higher. Here is what Heinz is thinking....

Date: Fri Dec 03 2004 12:53
trotsky (gold) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
nice turnaround - now it's back to watching for a run-away market to develop ( that's usually the outcome when a correction attempt from high levels is aborted in a commodity ) .

Date: Fri Dec 03 2004 12:50
trotsky (mini-miner@inflation) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
in fact, the most recently published GDP deflator was at a 42 year low - even allowing for hedonics-induced data distortion this is a remarkable record in the face of the dollar decline and the sharp rise in producer input costs from higher USD commodity prices.
it shows how strong the deflationary undercurrents remain.
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