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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.98

+0.7%

Jan 8 4:00 PM EST

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To: Bobby Yellin who wrote (3042)	11/11/1997 3:42:00 PM
From: Bucky Katt	Read Replies (2) of 116844

Gold is dead as long as the dollar is strong. How can the dollar collapse? 1-World wide equity market meltdown. 2-Workers are thrown out of work, skip on their credit payments, banks collapse. See Kodak news today. 10,000 high earners now earning zip! Think of declining collateral to banks. FED can only bail out so many. Think of the domino theory. Until there is a real crisis of confidence, gold is dead. You have only to look at the muted performance in the Comex futures today to understand. Fundamentals mean nothing in the current gold cycle. Central bankers have seen to that.

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