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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.90

+0.9%

Nov 18 4:00 PM EST

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To: Enigma who wrote (22385)	10/29/1998 1:11:00 AM
From: Don Green	Read Replies (1) of 116762

Goldman Sachs, one of the biggest US investment banks came out with its new forex forecast today. The firm sees the Dollar in a bear market and sees $/Yen retesting its recent lows and reaching 109. It is more bearish on $/Mark and says that it will test its recent low of 1.5870 and its target is 1.48. Goldman Sachs cites as evidence for its prediction the fact that foreign capital is fleeing the US and although it is currently being supported by foreign central banks increasing their Dollar holdings, this trend is unlikely to last. Japanese repatriation of funds has been leading the flight of foreign capital out of the US, but many central banks fearing a low Dollar will harm exports are buying Dollars very aggressively.

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