Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Axxel who wrote (222)	10/6/1998 5:42:00 PM
From: Andrew N. Cothran	Read Replies (4) of 48092

Another FYI One has to be impressed with today's action in the gold market. Of course, the usual rumor mill had the IMF selling, countries selling, etc., all of which were firmly denied by responsible officials. NEM opened late on a large block and opened lower. It went slightly lower and then rested. Once Clinton began his much publicized speech before the IMF and World Financial Leaders, the gold market started a discernible move back to the upside. Both the bullion and the stocks moved off their lows and kept on moving when it became apparent that Clinton was full of the usual cliches and generalizations and was not prepared to bring any substantive suggestions to the leaders of the world with respect to potential solutions of the "gravest financial crisis to face the world in the past 50 years." Practically every gold stock ended higher on the day, most of them at their highest levels at the close. The message should be clear to all who care to hear. If you need a bell to ring, I think it rang today--and it rang rather loudly.

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