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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (15063)	8/6/2002 10:17:49 PM
From: sea_urchin	Read Replies (1) \| Respond to of 82414

Thanks ild, I like Leonard Kaplan's style and his expressions, not least because I use some of them myself. However, I don't know what one can make of his forecasts precisely because no-one knows what's going on. Indeed, any forecast has a chance of being right --- even mine. As far as I am concerned, however, the failure of the gold price to crack $330 is a distinct disappointment particularly considering the story about all the cornered shorts who were supposed to be buying in. Another big attraction, for me at any rate, was the the notion that the long term bear trend had been cut and that a secular bull-trend would resume. (Put your ruler on the tops on this chart) bigcharts.marketwatch.com Also, the weakness of the USD. Now that the cat is out of the bag, we have to view the gold price as being in a trading range between $260 and $325, where it has been for some years, and which is not exciting particularly because the USD is so strong at the moment. So, I wouldn't be surprised if the gold price, and the prices of the gold stocks, go along sideways, at best, and could even go lower. However, as I have frequently said, I'm not a trader and I will continue to hold my gold stocks, but is is important for others to know that the situation of an investor in South Africa, faced with an endemically depreciating currency and a government which can pull any trick on local investors or business-people, is not the same as that of someone living elsewhere.