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

To: SliderOnTheBlack who wrote (66281)	3/20/2001 7:20:59 PM
From: Hawkmoon	Read Replies (6) \| Respond to of 116764

HEEEELL BOOOOY!!!! HEEEEEEL!!!!! (egg suckin' dog...) I don't know what color the sky is in your world, but I just listened to Kudlow on CNBC.. and HE CLEARLY STATED THAT HE WOULD LIKE TO SEE A $30 MOVE IN GOLD. Did you think I just pulled that out of my @ss or something? And I think you should go back and reread the 3 sentences I included in my post, none of which stated that I didn't believe gold could rise $30/ounce. All I stated was that exceeding $300/ounce was quite unlikely given the extensive resistance at that level and the general level of deflation evident in the global economy. Now, obviously Kudlow would like to see such an increase, but I perceived that he now has his doubts after the Fed only lowering by .50 basis points. I sensed that he didn't believe the Fed was adding enough liquidity and that this was undermining his prediction on a large move in gold. And given the predominance of individuals here who believe the price of gold is going to one day fly through the roof, it's entirely justifiable for me to comment as I did about gold not being likely to penetrate $300/ounce. And btw, I never said Kudlow was was a moron. In fact, I agree with much of what he says, although I don't buy into his affection for gold as backing for currency. I'm no fan of the gold standard because I don't believe the strength of a nation's currency should be measured by the quantity of shiny yellow metal they have. It should be based on economic factors. The XAU might see 72 or it might see 41 support if this economy doesn't shake itself out. And given the energy issues in Californial that are interrupting business operations and stifling business operations out there, we might see continued pressure on commodities as business slows and capacity underutilization continues. What if consumer confidence doesn't turn around? I would say that bodes badly for gold as well. So lighten up Kilroy....