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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: IngotWeTrust who wrote (9637)	4/9/1998 1:31:00 AM
From: paul ross	Read Replies (1) of 116791

Helllo, Ma'am; Just a couple comments. Offhand, just because 1 unit of 1 currency is worth more than 1 unit of another currency, doesn't necessarily mean its the stronger currency. One British Pound is currently worth $1.67 and, though quite strong in its own right, wouldn't necessarily be viewed as stronger than the US$, especially if it used to be worth $1.85 The ECU (symbol XEU) is currently 1.0841 US$, but is trending downward being at 1.1232 on 10/09/97 and 1.1380 on 4/9/97, if I am reading that correctly: oanda.com Also, what is the present thing called the ECU? Surely it wouldn't be the same currency that will be in place after the % of reserves is determined. The "same" currency in the sense that the makeup of the reserves (% of gold) could very possibly radically change its value v./US$. PR

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