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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Hawkmoon who wrote (28168)	2/13/1999 10:57:00 AM
From: lorne	Read Replies (2) of 116833

Hello Ron, You said >>>When there is a high demand for cash from the economy, CBs release reserves into the system to prevent excessive interest rates from manifesting themselves because of a shortage of cash and more competition for that cash. Why not gold? <<< IMO. if their currency and economy is faltering and they get rid of their gold what do they have left of value. As Duisenberg said >>> European Central Bank president Wim Duisenberg said that gold's role in the central bank reserves is to defend local currencies, not capital appreciation.<<< Gold is a defence. Lorne

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