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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 231.11

-3.3%

Jan 20 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (50952)	4/16/1999 7:21:00 PM
From: Glenn D. Rudolph	Read Replies (1) of 164684

What caused it to perk up, in your opinion ? Sarmad, I know this was not direct at me but I really believe I understand the reasons. The supply on the open market is declining due to two reasons. The economy in the Pacific Rim is improving so the banks there do not need to dump gold on the market to survive. Secondly, the Swiss agreeement to pay back losses from the holocaust is coming to a close. There is less than a $billion disputed and the Swiss have been paying in gold. This is the supply equation. Demand is at an all time high in the US and Europe for various reasons. The Pacific Rim had almost no demand but now as their economies are improving, there is some demand. That is also noticeable in diamonds. I anticipate gold to not go much above $310 per ounce by late summer. How much that will leverage NEM is difficult to say. Glenn

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