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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

4:00 PM EST

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To: Bobby Yellin who wrote (14417)	7/12/1998 4:19:00 PM
From: Al Gordon	Read Replies (2) of 116756

If anyone has been waiting for some "exciting times" in global markets,this week should live up to expectations. My first thoughts regarding the Japanese governments devastating defeat, are that the yen will be sold off sharply, as it now looks like promised reforms to the banking sector and promised tax cuts, will at the least be seriously delayed. Will this set off another round of currency devaluations against an ever rising U.S. dollar? Regarding the price of gold,my biggest question is how far is this currency devaluation game is going to go before it dawns on market participants that currencies are only worth the faith that is put into them.When that faith disappears you have panic. It seems to me that point is getting a lot closer. Any thoughts?

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