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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: Enigma who wrote (27569)	2/2/1999 2:37:00 PM
From: Zardoz	Read Replies (4) of 116791

Where were you in August when I said that a Gold reserve can HURT a currency more then help a currency.... Fiat money as you call it is a better form of currency stability then Gold reserves. And holding foreign bonds such as Canada does is even more better. Especially if the bonds are backed by a loose gold reserve such as the US FED. Your so called rally reversal is based on a weak fundamental and shows it's instability. I would be very concerened with it. Look at the large move down, and then back up. Very thin market. Possible sign of over bought status. Downside risk is VERY large. XAU index and GOX index are suggesting this. Your analysis of this as a rally IS WRONG! Beware the shorts that are adding on Aprils delivery, and being bought in the spot. How do you know it's shorts. The seperation between the future and the spot has shrunk rapidly today. Spot is trading nearer to futures. kitco.ca This is not a good rally.

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