GOLD-XAU Message Board - Msg: 3011845

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Gold/Mining/Energy : GOLD-XAU

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To: Don Green who wrote (740)	12/19/1997 8:59:00 PM
From: MUDMAN	Read Replies (1) of 1756

Don: Any buy under $295 will turn out to be a decent investment in 1998. Mines are being shut. The CB nonsense is already built into the price. Demand will remain strong in US, India, China. The best inflation news is already behind us. US wages are growing at a 4% rate, and services account for 70% of US economy. Gold is not the perfect inflation hedge, nor am I a gold bug. However the gold market has been a one way street the past year. There is nor fear on the short side. As a contrarian this means that everyone who is a weak hand is done selling. There will be an event that will cause the shorts to get their faces ripped off. Does this mean POG is going to $400? No. I think the range in 1998 will be $285-345. Nonetheless, I have a hard time believing a commodity can stay close to its production cost without adversely affecting supply. This is true - even for gold. One thing I know for certain: we will know who's right next year at this time. Mudman

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