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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.28

-0.9%

Dec 1 4:00 PM EST

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To: Ken Benes who wrote (34508)	5/25/1999 7:41:00 PM
From: Enigma	Read Replies (1) of 116791

Well if you play the odds 20 year lows could be very attractive - even if you're 5-10% out. Also the currency mahem you refer to and Y2K might be chaotic enough to cause a run to gold after all - the British auctions are going to be very interesting. At this stage the worst thing would be for the B of E to cancel or postpone the auction. The damage done already to the asset value of the Brit's and other CB holdings is huge and could have a salutory effect on further sales. The idiots are selling low, and probably buying high. Frankly, we're in such uncharted territory that nobody can have a clue - except to say that gold will be under pressure for a month or two more at least- but, having said that, I think some gold stocks are buys right now. d

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