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

To: goldsheet who wrote (87679)	7/5/2002 11:31:29 AM
From: ild	Respond to of 116764

>>>Flatering $US makes gold more expensive in other currencies, which would reduce demand. There are many places where people hold USD (sure including USA). When USD was in bull market no one had to worry. Now when USD is weak one might think about not to be so overweight in it. Just a little spill -- a few Bln $$ -- into gold will do the trick.

To: goldsheet who wrote (87679)	7/5/2002 11:48:22 AM
From: The Vet	Read Replies (1) \| Respond to of 116764

Flatering $US makes gold more expensive in other currencies Now I agree that flattering the US$ (by overvaluing it as it has been for some years) does make gold more expensive in other currencies (which as a result have lower buying power of everything - including gold). However a faltering US$ (ie. lower US$ value compared to other currencies) actually makes gold cheaper in other currencies and should increase demand. All this depends on a constant gold price in US dollars of course.

To: goldsheet who wrote (87679)	7/10/2002 6:42:19 AM
From: long-gone	Read Replies (3) \| Respond to of 116764

No one mentioned this was coming. XAU Should take a Major hit today!! This major downdraft should NOT be seen as an indicator of future direction of gold price but MAY cause a sell off of the other Mining Stocks When XAU falls so hard!! Your XAU - Gold Price ratio should make a major change!! & you're showing ABX & PDG being +14% of XAU so XAU hit could be MAJOR!! S&P 500 changes to dominate Sentiment remains weak as European stumbles By Emily Church, CBS.MarketWatch.com Last Update: 5:58 AM ET July 10, 2002 LONDON (CBS.MW) - Leading U.S. large caps were marked lower in pre-open trading on Wednesday as European stocks stumbled on a new wave of selling, but the bearish sentiment for once looks to take a backseat to a technical issue of stunning influence: the new S&P 500 index make-up. Standard & Poor's decision to go all-American with its S&P 500 index of large stocks and add seven recent IPOs like Goldman Sachs and Electronic Arts to the No.1 market benchmark created a little havoc in Europe on Wednesday. Royal Dutch Petroleum (RD: news, chart, profile) and Unilever (UN: news, chart, profile) were the two European companies among the seven that will be ousted from the S&P 500. The stocks promptly plunged 7 percent and were the leading large cap decliners on the Continent. Merrill Lynch estimates $830 billion is indexed to the S&P 500. Any change brings the prospect of a massive increase in supply, and hence depressed stock prices, as fund managers sell the out-going and buy in the in-coming stocks. The other five Canadian companies to go after the close on July 19 are Nortel (NT: news, chart, profile), Alcan (AL: news, chart, profile), Barrick Gold (ABX: news, chart, profile), Placer Dome (PDG: news, chart, profile), and Inco (N: news, chart, profile). Coming in are: United Parcel Service (UPS: news, chart, profile), Goldman Sachs (GS: news, chart, profile), Ebay (EBAY: news, chart, profile), Electronic Arts (ERTS: news, chart, profile), Prudential (PRU: news, chart, profile), Principal Financial (PFG: news, chart, profile), and SunGard Data (SDS: news, chart, profile). Read about the rationale at S&P for the index change Dealers at Madoff Securities in London said that Ebay was marked up 4 percent at $59.26. Among out-going stocks: Canadian gold stocks Barrick was down 60 cents at $18.95; Placer Dome was down 35 cents at $11.10 and Nortel Networks was down 10 cents at $1.45. In other non-S&P related action, trend-setters like Cisco Systems (CSCO: news, chart, profile) and Intel Corp. (INTC: news, chart, profile) were marked down 5-25 cents. Dell Computer (DELL: news, chart, profile) was trading in line.