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

To: Crimson Ghost who wrote (59506)	10/7/2000 12:46:38 AM
From: Rarebird	Read Replies (1) \| Respond to of 116763

<I have little doubt we will soon see a big rally in PM stocks.> I don't see how you can say that. "King Dollar" is killing Gold and there is no sign of that trend changing yet. As incredible as this may sound to many on this thread, I think investors have been selling their gold hedge here to raise cash to put back into equities at the opportune time. The gold stocks have managed to even underperform the COMP throughout this decline.

To: Crimson Ghost who wrote (59506)	10/7/2000 1:15:01 AM
From: Rarebird	Read Replies (1) \| Respond to of 116763

The rampant bullish prognostications by many on this thread in the face of continued new all time lows in the XAU is a very bearish omen. This obstinate bullishness flies in the face of all fundamentals and has no basis whatsoever. It is based on the false thesis that the dollar will decline along with the equity market here. I think the equity market has to fall quite a bit more before the dollar follows suit. Even that may not help much as the US economy stands to still remain the strongest economy in the world during a global economic downturn. If investors/traders/money managers were convinced that a hard landing was imminent and that inflation was going to soar, they would not be pushing the XAU to new all time lows here. Gold is in a very tough position here. I wish I could be less bearish and even bullish, but I don't see a sustainable rally yet.