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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

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To: Terry Rose who wrote (12621)	6/4/1998 10:12:00 PM
From: Gabriela Neri	Read Replies (1) of 116815

A devaluation in China would reek havoc among other Asian countries, as it would make their exports less competitive, resulting in continued and worsening economic weakness, resulting in further currency devaluations, resulting in further gold sales in order to generate liquidity in dollars. After that, gold may rally. However, having explained the logic of why gold would fall, I do not think China will devalue unless things really get out of hand a lot more. Our economy would have to weaken substantially and that of Europe. As it is, its just lucky that the good ole USA is humming along while Japan, Asia and others(Russia) are really sucking some wind. Without the strength of the USA and Europe, the world condition would be in really bad shape and getting worse.

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