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Gold/Mining/Energy : At a bottom now for gold?
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To: ahhaha who wrote (1357)7/6/1998 9:17:00 AM
From: Vieserre  Read Replies (1) of 1911
 
AHHAHA

Thanks for the thorough response, the time taken to so, and for your valued comments. I need time to digest them as there is a wealth of information to think about. In meantime, I have another topic that I would ask your opinion on.

In each country where the currency is presently being devalued, there are inflationary forces at work owing to an increase in the price of imported goods and recessionary forces owing to internal economics or otherwise. As a result, commodities (and gold in US dollars) are dropping in price because of a drop in demand in the affected countries. Russia is in dire economic straits with economic depression. China has internal economic problems contributing to recession and its exports are weakening. Saudia Arabia and other OPEC states are struggling with the drop in oil revenue. Britain is in stagflation. And the US is chugging along with inflationary pressures that appear to be contained by the dollar. Gold is responding negatively to the foreign curency devaluations, to China, to Russia, the drop in oil and other commodity prices and with apparent indifference to any British and US inflationary pressures. And, it would seem that if the dollar did drop, any inflationary pressure resulting from the drop in the dollar may be offset by a rise in US rates and substantial drop in GDP. In short, there appears to be inflation on one hand and paradoxial deflation on the other at play in the global universe with deflation in control. How do you see this playing out? And why should one be bullish for gold in this environment
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