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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: Jaakko who wrote (4184)	12/12/1997 11:25:00 AM
From: JD	Read Replies (2) of 116892

Canada going south. From various papers Calgary Herald 12/12/97 southam.com interesting excerpts... The dollar, caught in the undertow from the Asian currency crisis, was dragged down to 69.98 cents US before being rescued by the Bank of Canada which spent an estimated $500 million US to buy up the currency. "We're beyond the point of arguing if we're going to get higher rates, we're now at the stage of when and how much," he said. "And we're running out of time on the when, which could be (today)." Financial Post 12/12/97 canoe.ca title: "FULL BLOWN CRISIS IN CONFIDENCE HITS C$" is from quote by senior Nesbitt/Burns economist. includes another interesting statement... ÿThe central bank's moves were the latest in a string of interventions that cost about $3.1 billion in October and November. This month's tab won't be known until early January. JD

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