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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: RFH who wrote (8780)	10/6/1999 5:00:00 PM
From: Jack Jagernauth	Respond to of 18928

Rob and Tom, European countries announced that they will limit the amount of gold that they will sell, lease, etc. over the next five years. While I welcome the sharp increase in the price of gold recently, since I seem to own bucket loads of precious metals funds, the recent sharp rise might be attributed to short covering by hedge funds, etc. On the other hand, some people feel that this is a major breakout for gold, like stocks did in 1982/83, and that Y2K fears might keep the price of gold going up in the near term. It's ironic, but the strong upward move in the price gold is actually hurting some gold mining companies that have hedged (locked in future sales at lower prices). Regards, Jack