At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Bobby Yellin who wrote (1028)	12/30/1997 6:04:00 PM
From: Bo Bob Brain	Read Replies (1) of 1911

Don't be discouraged by todays activity in gold & silver. A major turning point may be developing in the gold market. Indicators are turning to the upside, and if silver can hold $6.00, we may see our first buying opportunity in the gold market in a number of months, early in 1998. The XAU, which is usually a pre cursor to what to expect in the gold market was up over 3 points today to 75.26, up nearly 4%. That could be the first spark in a longer term rally in the gold market. Time will tell. Gold down .90 at $291.60, silver closed at $6.185. Dec. expiration in the silver contract means very volatile trading sessions. Bonds held resistance at 119.28. A good pullback for another good buying opportunity. Consumer confidence data spooked bond traders, a bit over exaggerated. Possibly a drop down to 118. Stocks broke thru resistance to the upside despite the drop in bonds, outlook much improved. Will get a clearer of all markets on Monday when traders are back in full. Sorry for the short report, have to run. Have a wonderful New Year. Al

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