Mish's Global Economic Trend Analysis Message Board

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

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To: JMK1 who wrote (20614)	1/6/2005 4:37:19 PM
From: mishedlo	Read Replies (3) of 116555

What's yours or Heinz's opinion on SA miners? I read his piece about the Rand. Shouldn't a weakening of the Rand with higher spot prices have a more positive effect on SA miners then the north american ones? Especially DROOY - it's been beaten down to 1.5 now. JMK1 I can not speak for Heinz really other than post what he sends me. IMO SA miners could lead the next wave up. If the RAND keeps sinking then the SA miners have a decent chance of holding value as long as gold does not get hammered too hard. Read Heinz's blog on the Rand. As for a big move up in gold, Heinz does not see it until the yield curve stops flattening. It did widen today a couple ticks but one day does not mean much. I think a good catalyst would be a "surprise pause" from the FED since everyone is now convinced that the FED is going to keep hiking from now till doomsday. Note that same action would sink the US$ good too. Perhaps Greenspan is doing nothing more than talking the US$ up as much as he can before he has to pull the rug on it. Mish

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