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Gold/Mining/Energy : Gold Price Monitor

GDXJ 112.58

-1.5%

Dec 15 4:00 PM EST

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To: The Fix who wrote (3316)	11/19/1997 11:10:00 PM
From: Rob	Read Replies (3) of 116815

Fix, What Inflation in Canada? I think you're a little backwards on your facts, Fix. Inflation has fallen to 1.5% as reported by StatsCan (http://www.canoe.ca/MoneyNews/nov19_inflation.html). Economists usually regard any inflation rate below 2% as negligible. The only talk there has been of raising rates has been in regards to giving support to the Cdn $, which has been faltering. (http://www.canoe.ca/MoneyNews/nov19_rated.html) If you're waiting for inflation to act as the major impoetus for a rise in the price of gold, I think you'll be waiting for a long time. If anything, I think deflation is more of a threat. The POG is going to move once everyone realizes that (1) Gold has been the victim of a major campaign of short-selling, and there isn't nearly as much in inventory as is believed (plus production is scaling back in a major way), and (2) the ongoing global currency crisis will cause a move to gold as a storage for wealth (especially in Asia). Rob

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