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Gold/Mining/Energy : Gold Price Monitor

GDXJ 115.10

+1.1%

Dec 30 4:00 PM EST

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To: Jim McMannis who wrote (11652)	5/15/1998 9:05:00 AM
From: PaulM	Read Replies (1) of 116836

Jim, how do you feel about the possibility that the Asian crisis is a two edged sword for gold? It is true that a lower gold price has tended to correlate with lower Asian markets but at some point it strikes me the crisis passes a threshold and that has the opposite effect. I suspect nobody thinks the Asian markets have hit bottom just now. Headliens today: Indonesian markets "paralyzed" P.S. I still think most demand for gold is monetary in Asia, with jewelry just being something to do with it in the meantime. Off to work. Cheers.

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