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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: long-gone who wrote (28500)	2/17/1999 10:39:00 PM
From: Hawkmoon	of 116762

Richard, I believe you commented earlier that these unemployed people will be removed from the rolls of the investing public and will not be buying stocks. One thing about deflation. When people find themselves unemployed, they sell any thing not crucial to their existence in order to raise cash. That's why Pawn shops do such a raging business in hard economic times. They find plenty of people willing to sell their gold jewelry for a discount to the going market rate, and demand for gold is superceded by demand for cash. During inflationary times, the problem is not having too many people out of work, but too many people finding that what they make doesn't go as far. Only when the Fed hikes interest rates and slows the economy down do you find the unemployment issue manifesting itself. This is something that bears watching as we all look for a bottom in the gold market and a buying opportunity. Regards, Ron

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