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

To: PaulM who wrote (57137)	8/9/2000 3:14:34 AM
From: chic_hearne	Read Replies (4) \| Respond to of 116972

Re: thanks. why not post yourself sometime. good nite. Paul, I have nothing to add. I have a little money in gold stocks because the current state of the US stock market scares the hell out of me. Here's a question that may have been answered before. I have trouble figuring out what's the biggest bubble; the US stock market, the US real estate prices, or the US currency? If one of these bubbles bursts, won't gold rise in any case? Specifically, if the Dollar crashes? To the naive self, it seems gold is low in US dollars because the US dollar has been inflating so much compared to the rest of the world currencies. Should the Dollar "correct", gold would get a nice pop. I see any of the 3 bubbles crashing as leading to all 3 crashing, and I think it will happen. Things are getting too overvalued here compared to what the Dollar can buy in other places. Technology built this bubble, but technology is the great equalizer. It is now going to let everyone else catch up to us, thus leading to our currency being valued on an appropriate level, IMHO. Maybe I'm naive about this, but it seems destined to happen... chic

To: PaulM who wrote (57137)	8/9/2000 5:46:41 PM
From: Alex	Respond to of 116972

Central Bank Relaxes Control on Gold Market China's central bank, the People's Bank of China, has demonstrated the Chinese Government's strong commitment to opening up the domestic gold market when its Shanghai branch let the Shanghai Laofengxiang Jewellery Corp, one of the country's largest jewellery processors, purchase old gold jewellery from the public a few days ago. This is the first time that the central bank has officially transferred its power to purchase old gold jewellery to an enterprise. Before this relaxation, the central government had tightly controlled the purchase of gold and its allocation for decades. Consumers were only allowed to exchange their old gold jewellery for cash at the central bank's outlets. Gold jewellery enterprises were forbidden to purchase gold from the public. Consumers were only permitted to exchange their old jewellery for new at these enterprises. Consumers are now permitted to exchange their old gold jewellery at the Laofengxiang corporation for cash. The Laofengxiang is authorized to value the jewellery. The valuations have to be basically in line with fluctuations in the central bank's gold purchase prices, sources with the bank said.