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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Bill Murphy who wrote (2503)12/8/1998 9:07:00 PM
From: PAUL ROBERTSON  Read Replies (1) of 81106
 
Hi Bill,

How about that break on the CRB today.Technically,it looks like deflation is accelerating.After a quick drop off from the 195 level, say to about 185-190,195 now becomes major long term resistence.Demand for gold may drop off a cliff yet.It certainly has for the base metals.I still look for a major gold bottom at much lower levels,say 07,08,09 next year with possibility of some basing before the big up move.It will be interesting to see how it does over the next couple of weeks.If it holds,you might be right yet.For the time being,my bet is on the short side.Check out the sv daily and the pl weekly,they project much lower levels.Gold does not look very bearish on the daily,could be disasterous on the weekly,looks like hell on the monthly.

Take Care,
Paul
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