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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

4:00 PM EST

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To: C Hudson who wrote (21133)	10/8/1998 10:31:00 AM
From: Giraffe	Read Replies (1) of 116753

>>The dollar drops more than 10% in a day (and then more overnight) and now the POG is DOWN! Help me, I'm a drowning Goldbug.<< It only matters if you believe that the dollar has a overriding causal relationship to POG. Personally I just look at the gold chart and see it proceeding upward in an orderly fashion (more up than down) and everything seems fine. Somedays it looks like the dollar is driving gold and somedays it doesn't. BTW the XAU is down a bit this morning but some golds are up 5 to 6 % - I think what's happening is that the gold market is just coming in to its own. No more tail wagging the dog.

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