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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: The Street who wrote (25678)	1/8/1999 2:14:00 PM
From: Jim McMannis	Read Replies (2) of 116791

Dear Street, RE:"Gold STOCKS will tank too when the market crashes. But physical Gold should hold up better than stocks ot the dollar in that case.".... Very astute... Interestingly, when the gold stocks tanked in '87, the POG held up pretty well and only started to decline a few months later. This is why I refered to Gold Stocks and NOT the POG. Never the less, the POG didn't set the world on fire either at that time but on the other hand the world didn't go to h&ll in a hand basket either, even though it looking like it would on October 19th, 1987. True, gold can be construed as a currency. The arguement goes though, that there are a lot of other currencies that pay dividends. Gold doesn't. So the gold bug arguement goes that gold will be the last standing reserve currency. Maybe it will be, but it sure will be an ugly world when it does. I'm storing a little food and fishing tackle. Thanks for popping in. Still taking the Tico Times? Jim

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