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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.88

+4.2%

Dec 9 4:00 PM EST

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To: Mike M2 who wrote (3505)	11/24/1997 11:31:00 AM
From: PaulM	Read Replies (2) of 116801

Great News for Gold Today, (if not for the economy generally). As I write, Bloomberg is reporting that the becnhmark treasury is down 14/32, with a yield up to 6.06%. This on fears--just fears--that the Japanese will begin selling their treasuries. Of course, if bonds go down, stock go down (as interest rates go up).. All that's left is real assets (esp. gold) and cash (esp. the dollar). And as for the greenback, as I write, its up against the Yen for obvious reasons, but DOWN against the german mark on speculation that the U.S. will be hurt by Japan more than Germany. If all this continues to play out, and the "flight to quality" turns out to be a flight AWAY from U.S. dollars and dollar denominated assets, we may be seeing the makings of a gold bull market (though this is certainly not reflected in the price yet). Paul

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