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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.75

-0.9%

4:00 PM EST

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To: Crimson Ghost who wrote (9192)	4/2/1998 9:24:00 PM
From: Terry Rose	Read Replies (1) of 116897

George, Here are some thoughts. I think Japan just poured some more pension money into the black hole of their stock market. Although their market opened up strongly at 250+, it has now entered negative territory on it's way to it's final bottom. Until the Bank of Japan raises their interest rates to protect their currency, I think this blood-bath will continue. If I were a Japanese citizen and could now invest abroad I would jump at the chance. My alternative is to stay in cash or buy bonds at 1% and get hammered. No on second thought I would be buying a hell of a lot of gold. Another one bites the dust. Daiichi Corp, a fairly large financial institution plans to call it quits. All major Japanese banks with exposure to Daiichi Corp have already written off their losses. Although the losses are over 1-2 billion dollars these banks state that they have sufficient equity to remain solvent. But even if they don't the Bank of Japan can just print up more yen and lend it to them at 0.5%. Terry,

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