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Gold/Mining/Energy : Gold Price Monitor

GDXJ 144.21

-0.6%

4:00 PM EST

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To: Don Green who wrote (17197)	9/2/1998 5:19:00 AM
From: Gabriela Neri	Read Replies (2) of 116922

From Steve Kaplans webpage: Read it and learn: The National Bank of Poland increased its gold reserves to 3.146 million ounces from a previous 2.396 million in order to increase the safety of its foreign currency reserves and ensure the possibility of financing the budget in case of any crisis situation, the NBP said in a statement dated August 20 but released on September 1. According to the statement, "Gold is the safest asset since it's not anybody's debt. In case of instability on financial markets and the decreases of other financial assets such as securities the price of gold usually goes up." Another reason for the buy is the historically low price of gold. For the last 10 years it ranged between US $350 and $400 per ounce, "but lately it has decreased to less than $300," presenting a good buying opportunity, the NBP said. [Wow. Someone actually making a financial decision based upon common sense!!!]

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