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Gold/Mining/Energy : Gold Price Monitor

GDXJ 115.10

+1.1%

4:00 PM EST

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To: Bucky Katt who wrote (5480)	1/9/1998 1:42:00 PM
From: PaulM	Read Replies (1) of 116835

WJ - Gold will show increasing strength in Asia, and in fact that's what I'm expecting will carry it in the short term. Gold has dropped precipitously the last two days in New York in the morning because of fund short selling. It should show strngth or stabilize later in the day. I frankly don't understand why people set support points for gold $30 apart below $280. If it continues below $280, it will find support at every $2 point. I disagree the S Koreans gave up without a shot. The Koreeans will collect 15 tons of gold if they're lucky. And don't believe STate run television estimates to the contrary. Silver was "manipulated" in the early 80's as well. The question is: why is it possible to manipulate? As always, we'll see.

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