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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: Jim Ilchyshn who wrote (4282)	12/15/1997 12:46:00 PM
From: Jim S	Read Replies (2) of 116753

If confidence in financial assets and government controlled currencies was to significantly reduce, then the total gold reserves of all CBs (worth 320 billion dollars at current gold prices) could be absorbed in an instant by private investors. Jim: Excellent point, and thanks for taking the time to respond with such a good link. My question, though, dealt with the obverse of this situation; namely that gold itself is being discounted, and there seems to be an effort to remove confidence in gold to the benifit of fiat currencies. Where does that take us? Thanks again, and good trading, (the other) jim

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