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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.08

-0.8%

Dec 24 4:00 PM EST

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To: Manfred A. Wallner who wrote (3018)	11/11/1997 5:19:00 AM
From: PaulM	Read Replies (5) of 116822

The more i think about it the more i also doubt $285 oz. gold. 1. We've already been told that the most died-in-the-wool Gold fans, the Swiss, are going to sell lots in the future. The market has discounted for this announcement. 2. Further threats to sell from the Swiss or other CB's should therefore have less and less impact unless and until the threats are actually carried out. 3. But selling and talking about selling are two very different things. Talking about selling costs nothing, lowers the price of gold, damages its perception as a "safe haven" (as it now loses value rather quickly) and ensures the flow of "flight to safety" money into dollar denominated debt. On the other hand, I suspect the prospect of actually dumping gold and relying solely on global curency management (like that in SE Asia) is likely to make the CB's wet their collective pants. I don't know whether we'll get inflation, deflation or both. But I do know that the price of gold is artificilly depressed, and that's reason enough to buy. P.S. Are there any threads which do discuss junior golds?

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