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To: GST who wrote (129959)	8/11/2001 7:10:24 PM
From: Joan Osland Graffius	Respond to of 164684

GST, >>What is your reason for owning gold stocks, if I might ask? I started accumulating the South African miners a year ago. I had a whole bunch of reasons; As a hedge against the US $ and these stocks were in another currency as I felt the US $ was over priced relative to any other currency in the world. I have owned IMPAY, AAPTY and De Beers in the past so I have respect for the South African mining industry; I also felt that if the foreigners would leave our markets these gold stocks would be a good hedge against my treasuries. I certainly could be out to lunch with my thinking, but recently we saw gold get a bid when the buck got hit. The rascals took my De Beers from me and I am looking for an entry to AAUK at recession levels. I am watching both IMPAY and AAPTS for entries. I can not figure out why these stocks have not be hit harder since the metals have been hammered. Joan