Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Joey Two-Cents who wrote (5641)	3/28/1998 8:50:00 PM
From: Funda	Read Replies (1) of 18691

EMU is causing Gold selling, Silver is the metal to be in Actually EMU is causing huge Gold sales. The Gold reserves of all the European Central Banks joining EMU are a lot more than is reasonably required for the new European Central Bank. So the member countries have been selling a lot of Gold - that also helps them raise cash to reduce their budget deficits and meet EMU targets. So there is and will continue to be a LOT of downward pressure on Gold from the different European Central Banks. Even the Swiss who are more cautious than most have a 3 year program of selling Gold. In metals, the place to be is Silver, not Gold. Incidentally the reason Buffet is in Silver is because it has large applications in future environmentally friendly technologies. Soros & Co. also have large investments in Silver Mining companies. For Silver story details see: biz.yahoo.com Funda

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