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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gameboy who wrote (30965)10/20/1998 11:41:00 PM
From: waverider   of 95453
 
Gameboy, it's now 4:30 AM in London. The FTSE quote was for today's close. That will have little impact on us. Tomorrow will be more telling.

The Nikkei is reacting now to one of the big banks in Japan accepting public money to help bail it out. This will ultimately mean they will sell US treasuries/stocks to fund these bailouts which will weaken the dollar and depress stocks. This is very good for gold and may have some spill over into oil...but demand is what is important there whereas gold has a lot more psychology behind it.

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