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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (630)	6/24/2002 10:00:58 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

pulse: US$ 107.6 (down), gold #326.5 (poised to rise) / jw

To: Jim Willie CB who wrote (630)	6/24/2002 12:08:38 PM
From: t2	Read Replies (1) \| Respond to of 89467

JW, It looks like the selling in the Naz/Dow is not hurting Golds. I would say that if there are margin calls, you would not expect to see selling of golds. The gold investors are unlikely to be invested in the Nasdaq..probably short technology if I had to guess. There may be a tendency to take profits though. However, if we don't see a near term bottom in the dollar, gold and gold stocks could continue running. Right now a decline like the one we have been seeing in the Naz, moderate and steady, is probably the best scenario for gold....without an actual crash of the markets. The interesting thing now is how the Japanese intervention is working; instead of buying up dollars, they are also adding to Euros when they sell the YEN. You can bet a lot of other currencies like Canada and Australia are probably getting some benefit as well....probably makes them to be the biggest beneficieries of the weakening dollar. I think Canada is the only G7 country with a Federal surplus...so there could be better flows near term. When natural resource sectors rally, so does the Canadian dollar. Do you know what the POG was back around 1990?