Anyone follow ASA on the NY? Message Board

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Strategies & Market Trends : Anyone follow ASA on the NY?

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To: chuckj who wrote (11)	9/19/1997 2:09:00 AM
From: Dale Schwartzenhauer	of 15

ASA made a new low today despite strength in the unrelated XAU index and some stability in gold. I can't figure out which way this gold market is going first. It feels like a test of $300 could be in store, which may be what the S.A. mines and ASA are discounting. Since this is mostly institutional activity, they tend to have a finger on the pulse better than most individual investors, which is helpful in forecasting price trends. On the other hand, silver looks pretty good and the PGM have been fairly strong this year. So a rally in gold may be more industrial based than monetary/economic crisis related. Still, the latter area is where the real play comes in and what most gold bugs feel is a set of inevitable events. Best regards, Dale

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