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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: goldsnow who wrote (9118)	3/31/1998 9:31:00 PM
From: MUDMAN	Read Replies (1) of 116885

Goldsnow: I think the performance of gold has been outstanding over the past few days. I agree completely that the metal seems to be a lot stronger and trending higher. The response to the latest Belgium sale was pretty muted. But perhaps even more impressive has been how well gold has held up in the face of the $$'s recent rally vs. the Yen and the DM. POG has hardly budged. This is a good omen. Regarding US bonds, the market does look tired, despite today's rally. The bond market has not really responded much to the recent dollar strength and the renewed weakness in oil. It feels like we are gonna see 6.25% on the long bond. I would think that would be somewhat problematic for equities. Mudman

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