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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.67

-2.7%

4:00 PM EST

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To: long-gone who wrote (15032)	7/30/1998 8:23:00 AM
From: Amelia Carhartt	Read Replies (1) of 116756

Richard: The gold sector looks just like the oil patch. True the price of oil has had a dramatic decline but you would think that no one on the face of the planet will ever have need of it again. I for one am a believer in natural law and that unto everything there is a season. In the meantime I look like one of the stupidest investors to grace the planet. With respect to gold I have to ask you, if you were say, an Indonesian and you just lost 80% of your capital due to devaluation would you have a lot of confidence in fiat currency? Right now these folks can't buy gold because their broke and relative to their currency gold is astronomically expensive. But, I don't think they will be forgetting this debacle any time soon and that when they can they will be buying. Think how well off I guy there would be today if he were holding gold. Well, nobody knows for sure what the future holds. But, I still bet with nature. Susan

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