At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Alan Whirlwind who wrote (798)	10/12/1997 6:43:00 PM
From: Bo Bob Brain	of 1911

Despite some of the most bullish inflation figures in nearly 2 years, the precious metals couldn't recover even half of what they gave up on Thursday. Very disappointing with the gold and silver market moving through critical support filling their gaps from over a week ago. Equally disappointing on Friday when we couldn't get more upside movement given the nature of the move we saw in the producer price index. Given the fact that the CRB is advancing and nearing the 250 level, given the dollars fall against the yen, there are alot of bullish factors in the market, and yet we couldn't recover Thursdays losses in the precious metals. Dec gold up $2.00 at $331.20, Dec silver up .07 at $5.195. Investors will now be focusing on the consumer price index this week, and the employment cost index later on this month, before the next FOMC meeting. Strong worldwide demand fueled last weeks rise in corn and soybeans. USDA crop report revealed a reduction in acerage and yield per acre. Beans appear to be heading toward $7.25. Corn market-???.

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