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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: Ron Wilkinson who wrote (11956)	5/20/1998 9:38:00 PM
From: PaulM	Read Replies (4) of 116823

Ron, that's a good point. I'm one of those people (who think the Asian crisis will cause gold to rise). Still expect it work out that way in the long run. One thing that baffles me: why wouldn't there be huge physical buying in Hong Kong, China and Japan as these currencies are sure to come under the same kind of pressure? Equally baffling: why wouldn't the investment community in U.S. and Europe take the same hint? What makes this counterintuitive situation (i.e., currency crisis resulting in lower POG) possible is that holders of fiat currencies in the rest of the world see no future ripple effect.

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