Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (38839)	8/12/1999 6:20:00 PM
From: goldsnow	Respond to of 116972

Doubletalk? Fed? They are amatures in comparison.. Clinton Favors Strong U.S. Dollar WASHINGTON (Reuters) - President Clinton said Thursday he favored a strong dollar and denied speculation that the United States had changed its currency policy after the departure of Robert Rubin as treasury secretary. ''No, we haven't modified our policy,'' Clinton said in an interview to be aired Thursday at 6:30 p.m. EDT by Nightly Business Report. ''I think the United States has to be for a strong dollar,'' the president said and attributed recent pressure on the dollar to economic recovery in Asia and growth in Europe. Clinton also said he had not yet spoken to Federal Reserve Board Chairman Alan Greenspan about whether Greenspan wants to serve a fourth four-year term as Fed chairman when his current term expires next June. ''I have no earthly idea what his intentions are and we haven't had a chance to talk,'' Clinton said. Clinton said the dollar's recent weakening has been a result of an expected economic recovery in Asia, some growth in the European economy and large U.S. trade deficits with countries like China. ''So I haven't been particularly alarmed by it, but neither am I for a weak dollar. I think the United States has to be for a strong dollar,'' he said. dailynews.yahoo.com --------------------------------------------------------------------------------

To: Rarebird who wrote (38839)	8/12/1999 8:32:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116972

Growing speculation that the International Monetary Fund has moved away from a plan to sell gold to fund debt relief for poorer nations, along with tighter gold lending rates, has helped to add a firmer tone to the gold market. ''That basically is the story. Those two items are perhaps leading to some short-covering and pushing the (gold) price higher,'' said Andrew Montano, director of precious and base metals trading at ScotiaMocotta in Toronto. Montano said growing fears of higher U.S. inflation and an escalation of hostilities between India and Pakistan could help gold continue its late summer rally. India, which has fought three wars against neighboring Pakistan in the past 52 years, shot down a Pakistani jet earlier this week over an inlet of the Arabian Sea, killing all 16 people aboard. The shooting renewed fears that the two countries would escalate a simmering decades-old conflict over control of the northern Indian state of Jammu and Kashmir. Copyright 1999 Reuters Limited. Growing speculation that the International Monetary Fund has moved away from a plan to sell gold to fund debt relief for poorer nations, along with tighter gold lending rates, has helped to add a firmer tone to the gold market. ''That basically is the story. Those two items are perhaps leading to some short-covering and pushing the (gold) price higher,'' said Andrew Montano, director of precious and base metals trading at ScotiaMocotta in Toronto. Montano said growing fears of higher U.S. inflation and an escalation of hostilities between India and Pakistan could help gold continue its late summer rally. India, which has fought three wars against neighboring Pakistan in the past 52 years, shot down a Pakistani jet earlier this week over an inlet of the Arabian Sea, killing all 16 people aboard. The shooting renewed fears that the two countries would escalate a simmering decades-old conflict over control of the northern Indian state of Jammu and Kashmir. Demand for gold, traditionally a hedge against economic and political uncertainty, tends to grow in step with international crises as investors trade vulnerable local currencies for the safe haven of bullion. India historically is a key market for gold. Copyright 1999 Reuters Limited infoseek.go.com