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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: C Hudson who wrote (28657)	2/20/1999 6:51:00 PM
From: PaulM	Read Replies (2) of 116892

the "proposal supported by Britain and the U.S. to sell....IMF...gold reserves has met with fierce resistance from the German Central Bank" biz.yahoo.com CHudson, that's a very astute observation about the Euro. The European CB's wanted to present a credible alternative to the dollar before the roof caved in. But even as Euro plans progressed, the political landscape of Europe changed dramatically, with the leftists so far short circuiting plans for a strong Euro. If the Euro fails, there is only ONE alternative to the dollar, and the Euro CB's are keenly aware of that. I don't know the answer to your lease question, but I do believe the Euro CB's intend to reduce leasing. That explanation for the spike is as good as any. As this plays out, the resolution of the gold short position could become the financial event of our life time.

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