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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Henry Volquardsen who wrote (4730)1/13/1998 9:02:00 PM
From: Odi Handoko  Read Replies (2) of 14226
 
Henry,

There are two perspectives here. One has to do with a currency's backing. The other has to do with personal asset "backing" (Sorry if I use the wrong words). For an individual, one can either hold currencies or hard assets. Currencies, like you have pointed out are supported by many factors. Your point is noted; my point is that the factors mentioned in your reply are subjective and IMO that is why the currencies move so much. Now US$ is strong but human perception and confidence are a very strange and volatile thing.

Here's an extract from an article that shows what happens to someone in SE Asia if he has had gold (instead of his currency in his hand):

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The numerical significance of the above charts follows - showing gold's percent increase in value in each of the plagued currencies.

Currency-----------Gold's Increased Value since early-1997
Indonesian Rupiah..+147.0%
Thailand Baht......+66.7%
Korean Won.........+83.9%
Malaysian Ringgit..+44.8%
Philippine Peso....+38.9%

Please recall my last report - only three weeks ago - showed an average 45% increase gold price in the beleaguered currencies. In less than one month the average gold price in these battered currencies soared even further to +76.3% from early 1997. GOLD has, and continues to offer positive refuge from crumbling currencies and the falling stock markets of Southeast Asia. (Note: Charts reflect data through January 6, 1998)
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Odi.
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