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Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.00

+2.0%

Jan 23 4:00 PM EST

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To: Bucky Katt who wrote (8160)	3/9/1998 11:16:00 AM
From: Enigma	Read Replies (1) of 116912

Gold is dead (con't). Reminds me of the cry 'Painting is Dead" heard every 10 years or so in the art world! Not so! Not So! Let's look at another angle - that of markets as a discounting mechanism. Hasn't gold, in its present slump discounted all of these price decreases in oil, etc. Won't governments respond with reflation? Also you can't have it both ways - in the last deflation, in the 30s US citizens were forbidden to own gold - so gold stocks were the place to be - they soared in value. In uncertain times the metal may be the place to be this time. Or the stocks or both. Which do you think has the potential to go down more over the next year or two - the Dow or gold? In percentage terms? In the Depression, investments that didn't actually do down in value were golden (excuse the pun). History doesn't repeat itself exactly, but contrarians should be looking for surprises and be sceptical about conventional wisdom. 60 years is too long for most of the present players, but a little looking back wouldn't hurt.

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