MIRANDOR-MIQ ON MONTREAL Message Board

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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL

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To: jocko who wrote (2273)	11/13/1998 1:31:00 AM
From: KMTMAN	Read Replies (1) of 2635

DOES GOLD RESPOND THE WAY IT USED TO? Many analysts recently have declared that gold "doesn't respond the way it used to" when news comes out which is positive for the yellow metal. That's like a Canadian complaining in early October that it just doesn't snow the way it used to. Since the bull market in most world equities began in 1982, there has been a period of more than 16 years in which the stock market has performed strongly, and there has been no need to consider alternative investments such as gold and its shares. Therefore, gold does not respond, because few people are interested. From 1966 through 1982, gold much more frequently rallied when the fundamentals for precious metals were positive, since the stock market was generally declining, and people were eager for alternative investments such as gold shares, which were strong performers during this period. Once the majority of current investors are convinced that we are in a bear market for equities, the kind of behavior that gold displayed in the last bear market will repeat itself, as surely as it will snow again this winter in Canada.

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