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Gold/Mining/Energy : Gold Price Monitor

GDXJ 118.97

-0.9%

Dec 24 4:00 PM EST

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To: long-gone who wrote (11874)	5/18/1998 9:48:00 PM
From: PaulM	Read Replies (2) of 116824

Asian currencies tanking again tonight. Consider the pressure on HKong and China to devalue. It seems to me this anticipated devaluation should result in huge physical buying in those two countries. Probably happening right now. The only alternative is the $, but only a little buying drives gold at these levels. I see the $ moving up against all other currencies with gold, but with gold edging out the other a bit. A bit longer term, the fate of the dollar is the same as its Asian counterparts. The Euro to me is a wildcard.

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