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Gold/Mining/Energy : Gold Price Monitor

GDXJ 147.31

+2.1%

4:00 PM EST

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To: goldsnow who wrote (12483)	6/1/1998 10:49:00 PM
From: PaulM	Read Replies (1) of 116925

Goldsnow, nice point. But South Africa may well be next. Take a look at what's happening to the 3rd world and how opportune it has turned out to be for the $ relative to all other currencies, inlcuding gold. 1. Asia tanks, Korea and Indonesia forced to liquidate AU. The IMF supported free floating curencies before the crisis, supported the Korean gold drive and post crisis opposes an Indo currency board. 2. Japan CB has no gold, but for some reason, doesn't sell its U.S. treasuries en masse either. Even though the country is in desperate need of liquidity. 3. Russia tanks, and soon after so does gold, as Russia announces gold shipments. We should be thankful in America, as other peoples' losses are turning into our gain.

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