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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: Terry Rose who wrote (16405)	8/23/1998 12:38:00 AM
From: Zardoz	Read Replies (2) of 116762

BOC will raise rates, when all their foreign currencies are gone. This is what they did before, and will again. Than when the CDN Dollar appreciates, they'll sell in to it gradually. Thus increasing their foreign assets again. PS: Gold means little for the CDN government, and the BOC. Had the BOC kept their Gold. The CDN economy would be at a much higher level relative to the US. Which would've put the CDN economy into a depression a long time ago. If Asia accounts for 10%, and Europe 10%, than why not allow the CDN dollar to drop relative the US {and gain market share} and keep the Asian, and European as well. This is why CDN sold it's gold. And why they aren't eager to raise rates early. It's a game... USA is the looser {as the markets will show. When the USD starts to correct {NOV} the Countries that shine are those with commodities. Gold should still get to $265 {refernce to post 16320} and I didn't/don't believe it'll stay there long.

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