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Gold/Mining/Energy : Steppe Gold (SPE:V) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Johnston who wrote (1239)	7/26/1999 1:14:00 AM
From: John Menzies	Respond to of 1248

Steve, Thanks for your comments- maybe not the last comment. Nuclear Winter is probably a pretty good analogy. What I do find interesting of late has been the growing concern amongst market observers about the state of the US economy etc and its liekly effect on Gold - we have all been here before and few could have imagined that the Aisan crisis would have given such an enormous boot to the US economy with lower commodity price, lower finished goods prices- at least those imported from Asia - all resulting in lower inputs for US businesses and consumers at a time of strength in the USD. A rather amazing collision of events resulting in a bouyant US market and overflowing comsumer confidence. I think that this evenet forstalled a ,major market correction which we otherwise would have seen more than 12 months ago. Interesting also is the effect this has had on gold - there is barely a bull in sight - wiped out by the bears continually pounding the market. During the silver boom there were days when teh floor trader for the Hunts Co. called "1000 lots bid limit" - scared off the bears - really wiped them out - we seem to have the same situation in reverse in the gold market. The next month or so could be pretty interesting - as there would seem to be a fundamental change of market view. If you are looking for some very good comment on the gold market have a look at this site - there is free trial membership and LePatron is a particularly nice fellow. lemetropolecafe.com Regards John