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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: Bobby Yellin who wrote (6957)	1/30/1998 8:42:00 AM
From: PaulM	Read Replies (1) of 116762

"still way down the road" IMO if it's true that cb selling and rumors of cb selling have ended, gold should float (slowly) to $350 regardless of the state of the dollar or the rest of the world. Also, Armstrong suggests the strength of European equity markets is becasue they are a hedge against the euro. Launching the euro in the current environment in will be very difficult. I see no reason why gold shouldn't benefit as a hedge as well.

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