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Gold/Mining/Energy : Gold Price Monitor

GDXJ 136.03

+6.2%

Jan 20 4:00 PM EST

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To: Abner Hosmer who wrote (12381)	5/30/1998 1:01:00 AM
From: Terry Swift	Read Replies (2) of 116895

Tom: As the Fonze would say... correctomundo. IMO, we will be inundated with very cheap (in dollars) imports. If you're in the market for a new anything electronic made in Japan, watch the prices fall this summer. Rubin has said the US wouldn't be concerned if the Yen went to 180 and some are calling for the Yen to drop as low as 200. If so, China will have to devalue and with that, so will Hong Kong, S. Korea and all other Pac Rim countries and prices of imports from those countries will plunge by 1/3 or more. Great for the consumer but a tough time for US companies trying to compete and, I expect, for their stock prices. I don't see inflation any time soon in the US. Not with the dollar considered the king of all assets, including gold. I don't see how we can have a sustained move up in gold until the dollar starts to weaken. Terry

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