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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (21598)	7/23/2002 10:02:13 PM
From: KMT	Respond to of 74559

thestreet.com Of particular interest... Today, the price of gold fell 3.4% to $312.60 per ounce, its lowest close since July 8, while the dollar rallied sharply vs. the euro, which fell below parity to 98.62 cents vs. yesterday's close of $1.0080. The dollar also rallied against the yen, and the dollar index rose 1.95 to 107.08. Given the greenback has recently been moving in the same direction as equities (i.e., down), while gold has been trading inversely (although more sideways-to-down of late), today's movements were somewhat curious. Indeed, a person given to conspiracy theories might surmise the Fed did convene a meeting today and decided to intervene to boost the dollar and weaken gold in order to help alleviate pressure on money-center banks, such as J.P. Morgan and Citigroup.

To: Maurice Winn who wrote (21598)	7/24/2002 2:08:40 AM
From: TobagoJack	Read Replies (3) \| Respond to of 74559

Hi Maurice, <<Gold going down the gurgler?>> Hardly, and not even in doubt. As I had planned, just did a few clicks on my HSBC wrap account, converted business acct Euro/CHF/AUD cash back to USD cash, realizing an exchange gain and secured company future for a while longer. Then, with a few more clicks for the personal account, converted some USD to CAN$, and some more USD to taels of paper gold. I love on-line banking! It feels good to be able to flee impending chaos with a few clicks on the mouse. I believe SOMEBODY is selling gold futures to save their own immediate behind, but will eventually fail. I believe gold is cheap at USD 320, and cheaper at USD 312 in August, and I am a buyer at both price points. Chugs, Jay