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

To: Zardoz who wrote (53399)	5/30/2000 7:24:00 PM
From: Enigma	Read Replies (2) \| Respond to of 116770

1)The charts would make easier reading if there were some headings. 2) Your arguments are no doubt very sophisticated - but surely if gold is denominated in US$, and the $US falls gold will rise - other things being equal. 'Ah, yes, you'll say, but other things aren't equal'. But, put it this way, if a Canadian producer extracts gold with a $Can at parity to the US$ and is only marginally profitable - won't he become immensely more profitable if the $Can falls to 68 cents US? That is in fact what has happened not only in Canada, but it S.A., and Australia too - so the decline in the POG has not hurt the industry in these countries at all - because it so happens that the curencies in all of these countries has tanked against the US$, more than the decline in the POG in $US??, and they are receiving as much or more for their gold in local currency terms, while mining costs lag. Isn't this why world production has in fact increased when you'd have expected a lower POG to have shut down mines?

To: Zardoz who wrote (53399)	5/31/2000 12:12:00 PM
From: Rarebird	Respond to of 116770

<Those brokerages and banks that hedged against a falling euro (by buying gold) to sell their gold and repurchase the Euros. This will drive gold back down lower.> This makes no sense. Brokerages did not hedge against a falling euro by buying gold. They have none to sell.

To: Zardoz who wrote (53399)	5/31/2000 4:52:00 PM
From: TATRADER	Respond to of 116770

Hutch, i should not open my mouth when I don't chart the POG, but only the XAU and gold stocks...My reasoning for a bottom here was based on a bullish divergence in my ultimate oscillator, a triple bottom in my fast stochastic 8 period, a declining wedge, and the testing of the lower end of the 30 period envelope channel which I believe will hold..Your comments on the POG and currencies as usual are brilliant..I even printed a copy of your comments...thanks...PM me when you believe a worthwhile upmove is coming in POG..Will send you good cigar via FedX....