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: Bobby Yellin who wrote (828)	10/27/1997 5:25:00 PM
From: Bo Bob Brain	Read Replies (2) of 1911

If the bond market gets shaken, then their is nothing left except gold and silver. Traditionally, historically, and up until the decoupling, today's activity would have been a perfect opportunity to flee to the precious metals. Gold was down $16.10 on Friday, we did go up $3.70 today. Pay attention to overnight activity in the precious metals. We may finally see some "flight to quality, flight to safety" buying coming into gold. People are getting very nervous with the currencies. We had seen people historically move towards the dollar as security, today they did not do that. They did move to the bond market. If THE BOND MARKET GETS SHAKEN, THEN THERE IS NOTHING LEFT EXCEPT GOLD AND SILVER. We did not see that today, but I would not be surprised to see overnight buying in gold and silver. A breakout above $323 could signal a significant move up in gold and silver. The federal reserve may lower interest rates soon. Something needs to be done because the psychology of the individual investor and of institutions has been badly shaken. Unless this happens, the stock market could really accelerate down. BBB:cc

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