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

To: long-gone who wrote (62707)	1/16/2001 2:42:00 PM
From: Professor Dotcomm	Respond to of 116786

<pounds sterling?> Roughly the same as the US$, in fact, since the 80s. But if you were able to pay for it in Polish zloty, Russian roubles, Yugoslav dinars or Brazilian cruzeiros, you would be laughing..... Which sends us a message, perhaps. Gold still remains a store of value against currencies in countries which have artificially maintained an unrealistic forex rate (or those, like Brazil, used devaluations as an instrument for transferring wealth). Today, it is, perhaps, more difficult to use such artificialities because electronic globalization makes it almost impossible. Heavy suitcases hidden at the customs are no longer necessary. Gold will only jump out of its secular downtrend towards its industrial value when the world's major - if not sole - reserve currency, the US$, loses its credibility. This is not impossible but difficult to see in the short term. However, I do see a weakening of the US$ over the coming months - enough perhaps to allow gold to reach my medium term target of $325-330.