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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

Nov 26 4:00 PM EST

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To: Zardoz who wrote (22641)	11/5/1998 4:23:00 PM
From: Giraffe	Read Replies (1) of 116768

>>That's a 8.57% decrease in US Dollar, and only a 3.70% increase in GOLD. Which gives an effective decrease of 5.18%, or a DEM/Oz decrease of 4.20%. << There are at least a couple of ways of looking at that - one that it is bearish for gold because it failed to appreciate by the equivalent amount that the dollar dropped. The other would be that the level of negative sentiment against gold has kept the market from acknowledging the imbalance. IOW that gold is undervalued vs the dollar and should rise another 4 or 5% (if the dollar remains constant). Given that POG is faced with its major resistance/support level of $300 I don't think it's terribly significant that it doesn't always move in sync with the dollar.

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