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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: goldsnow who wrote (14070)	7/2/1998 10:28:00 PM
From: PaulM	Read Replies (3) of 116764

Again, we shouldn't lose sight of what's happening. Gold is at a decade long high against the Rand (and SA is still the world's foremost producer), a two year high against the Aussie dollar and--who knows?--maybe an all time high against the Indo Rupiah (Indo is the seventh largest producer). Gold is not that cheap in alot of countries that count. What we gold investors need to consider is the possible downside of one last wave--maybe China, Russia (also major producers)--one last wave of devaluations leading to gold dishoarding. I say just ONE last wave because this next one will do enough damage to the global economy that it will eventually take the dollar down with it.

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