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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.04

+0.7%

Jan 16 4:00 PM EST

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To: goldsnow who wrote (13720)	6/23/1998 8:55:00 PM
From: long-gone	Read Replies (1) of 116874

OK, my math skills got a little weak,please help. What is the total $ value of the S&P 500? If I'm correct, the day Japan bought gold, we had a $4.00 +move. My best guess at cost of this action was $13.9 million. If even 1% of this remaining bull went into bullion what price might it drive? My PFA (pulled from air) number is in the $490 range considering current high world production levels. Ideas? One could also expect perhaps another 1% going into the XAU. Far to many will for ever forward believe the "gold has no value" mantra. the old rule of holding 5% metals will be for ever gone.I think we may well see 2% though as sentiment is changing. The only money left in the XAU is from we "crazies", the new money put there of late by the pro's & big money, & those few miners that are still part of the 500 & have gotten to where they are at from index funds. rh

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