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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.78

-1.2%

Dec 31 4:00 PM EST

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To: marcos who wrote (4203)	12/12/1997 6:22:00 PM
From: PaulM	Read Replies (2) of 116836

The latest PPI report in the U.S. showed that it fell unexpectedly. Also inventories were higher and sales were lower than expected. Also, the Christmas shopping season is so far worse than expected for reataliers. All signs of deflation. And I would buy that except there are also contrary indicators. The CRB (commodities index) is well off its low of 1993, and is pretty strong right now despite gold being cheap because of the threat of central bank sales. The Fed increasing the monetary base. The Bank fo Japan is making money. The currency devaluations abroad would seem to eventually necessitate devlauations everywhere (partly to support U.S. corproate earnings which may otherwise get battered). And I think that the CPI and PPI underestimate inlflation. We may be entering a period of slow growth, higher prices and volatile fianncial markets.......Cheery, huh...

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