Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: loantech who wrote (18530)	6/6/2003 8:43:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 82369

Tom > Marc likes gold, time for you too I don't have hard feelings about gold. Looks to me, however, because of the very similar patterns on the charts, that gold is now a currency play and, for me at any rate, there are other ways to play the currency game. I am also trying to take advantage of the "recovery" in the other stocks. > Or is this gold rally of late on it's last legs or fresh legs? To me, it's getting tired and, in fact, if it doesn't do something dramatic and get over $400 soon then I think people will be very disappointed and the price will fall a lot. I say this because in the last few months there have been two major reasons for gold to do its thing: 1. The Iraqi war with the expectations of major disruption to oil supplies and oil price soaring to $80 per barrel. POG hit $385. 2. Devaluation of the USD with expectations of "meltdown", "apocalypse" and all the other nice events usually associated with breakdown of the world financial system --- and what happened to gold? It barely got over $370. Of course, if the USD keeps going down then it's reasonable to expect that POG will go up. 3. There has been no increase for bullion demand on world markets whether for jewelry, investment etc, in fact, the play on the gold price has mainly been with paper instruments. Thus I feel the gold price is very brittle and could take a hit when the speculators move elsewhere. > Thanks for posting the Faber article Don't mention it. That's the only site I know which posts his material, so bookmark the page and keep looking at the Marc Faber link on the side. I also have his book, "Future Gold", which I think you would enjoy. I did.