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

To: long-gone who wrote (88703)	8/11/2002 8:02:05 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116770

No.. But I think we're going to see some more downside pressure on Gold, but that might prove to be the bottom. We're in an disinflationary environment, facing a long anti-terrorist war which will likely create great uncertainty. And with interest rates likely to decrease even more this fall, it will not benefit anyone to invest in bonds. And with a target on the SPX of 650 by 2005: bigcharts.marketwatch.com And MSFT (included in all 3 major indices) looking at testing $25-30, dragging all the indices down: bigcharts.marketwatch.com I'm looking for the XAU to fall to approx $50 again and testing long term support, where accumulation should continue: bigcharts.marketwatch.com And I have to say that I was rather struck with the chart someone posted related to the Dow-Gold Ratio. sharelynx.net But that doesn't mean that I believe in the "shiny yellow metal" any more than before. It's still a commodity that's considered a storehouse of value only because people perceive that it is. And these are the same people who perceived that DOW was going to 20,000 by this year. But I agree with the individual who posted that "gold must die so that the Dow can survive". It's not just the Dow, but the rest of the global economy that has depended upon the US to subsidize their inefficiency, tyranny, and generally backward economic policies. It's not so much that the US has failed, but that it has been dragged down by tremendous economic dead weight from overseas. Afterall, look at European growth.. They will always lag behind the US because their only growth is in export related industries, exports to the US.. But let the Dollar decline and suddenly they are all freakin' that they will have to face the hard economic decisions they have avoided for years (35 hour work weeks, 6 weeks of vacation, generous unemployment and pensions.. :0) Hawk