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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.96

+2.0%

Dec 22 4:00 PM EST

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To: Bobby Yellin who wrote (3193)	11/16/1997 8:36:00 AM
From: PaulM	Read Replies (2) of 116820

It may take some time for the stampede. One thing we can be fairly certain of over the next 3-6 months: lots of Japanese loans called in, lots of Japanese defaults and therefore lots of Japanese liquidation of assets. Because so many of those assets are American, we can expect direct downward selling pressure on U.S. Stocks, Bonds and Real Estate. As well as indirect pressure on U.S. stocks as lower bond yields result in higer interest rates. Giiven current politcal/market dynamic, all of this may be good for the U.S. dollar and not necessarily so good for gold. However, I see no reason gold should plummet either. I suppose that's up to central banks and possibly various political considerations. Later on however, perhaps in a year, the American economy will slow, fewer capital gains will be reported and with fewer revenues the Federal deficits will again grow quickly. The dollar will weaken, and gold should explode. We'll see.

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