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Gold/Mining/Energy : Gold Price Monitor
GDXJ 89.99+2.8%Nov 5 4:00 PM EST
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To: Terry Rose who wrote (7368)2/8/1998 3:53:00 PM
From: Mike McFarland  Read Replies (4) of 116752
 
Sorry, I don't get it--this so called
expansion in the money supply is going
to sop up all the gold out there? Is it
not the Asian's who have the penchant for
buying gold--and their currencies buy less
now. Seems to me, gold drops...becomes more
affordable to SEA, and finally bottoms out
somewhere closer to the price of production
in the next couple years--especially if we
see a worldwide economic recession. Anyway,
thats what I'm banking on...I captured the
dead cat bounce in a metals fund for a 25%
gain Dec thru Jan...and I'll be interested
again at $250/oz and $5/oz silver. Plus in
recession, Platinum will be cheap again too
--when all three metals are dirt cheap would
that not be the time to finally load up on
the stocks?

I realize that an opinion like this is not
likely to be popular on what has been a very
bullish thread of late, but I think it is
a reasonable position. If everybody is talking
about deflation, wouldn't gold deflate some
more as well? And maybe a gold bull
market will not begin until equities finally
end their bull run, giving folks a reason
to move toward something else?

I ask this very seriously, not just to be
a gadfly on the thread. There would be nothing
worse than to watch that precious metals fund
soar and watch gold go directly to $500/oz
now that I am out of it.
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