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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.80+0.9%Nov 19 4:00 PM EST

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To: John Hunt who wrote (34759)6/1/1999 6:08:00 PM
From: John Hunt  Read Replies (2) of 116764
 
What Drives the Price of Gold?

<< Federal Reserve Chairman Alan Greenspan said that: "... gold has been very useful as an indicator of the flight from currency." But, when Brazilians reject cruzeiros or Mexicans reject their irredeemable paper ticket money of the day, they don't buy gold. They buy something that has proven to be a much better value than gold. They buy dollars or, better yet, dollar-denominated securities such as U.S. stocks or U.S. Government bonds ... cont'd ... >>

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