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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (49706)	5/7/2000 6:50:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99985

Zeev: I am not expecting a disaster scenario either. My upside targets for gold are quite modest in this cycle. But if Joan's disaster scenario should come to pass, I doubt that even massive CB selling and leasing would dent the rise. The value of all the world's gold now is at or near a record low as a percent of global money supply and global financial assets. If even a modest amount of this liquidity were to seek a home in gold, the CBs could not do much to keep POG down. Especially with the huge short position currently outstanding. The CBs sold a lot of gold in the 1970s, but the price exploded anyway. The key is investor demand. As long as it stays dormant, gold rallies will be strictly limited. But if the worm ever turns in a big way, the GATA projection of $600 could prove conservative