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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.81+0.9%4:00 PM EST
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To: long-gone who wrote (14618)7/18/1998 2:50:00 AM
From: Wizzer  Read Replies (4) of 116762
 
Gut feeling only: I have thought for some time that the POG has been artificially suppressed to allow certain countries to purchase cheaper gold. It always seemed odd to me that countries were announcing their intention to sell that much gold, so much in advance. World events seemed to coincide with these actions, such as falling monetary values, stock market worries, etc.... Perhaps, financially challenged countries are currently purchasing cheap gold to support their suffering currencies, possibly by suggestion of the IMF. The "advance" announcement of selling gold reserves dropped the POG to facilitate this agenda. The ultimate stabilizing effect on worldwide currencies would be quite enormous, and cause less fluctuations in currency with proper management of reserves.

Being a Canadian, I also find it intriguing that Canada has done little to defend it's falling dollar. Normal practice would be to purchase Canadian money against other currencies to increase the value of the dollar. Why hasn't Canada done much? Perhaps, Canada is also buying cheap gold to add to it's reserves. This would serve to boost the value of the Canadian dollar for the long term.

**This is an opinion only, however it seems to make sense to me*****
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