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

To: IngotWeTrust who wrote (96053)	10/11/2003 9:20:04 PM
From: Gabe Heti	Read Replies (1) \| Respond to of 116927

Thank you. Exactly my point. Taking your numbers, you pointed out that the US dollar will fall 26% relative to the Euro (to .68 from .92) and the Canadian dollar will rise 21% against the US dollar (to .90 from .74). Hence the Canadian dollar will FALL relative to the Euro and probably relative to gold priced in Canadian dollars. Check out fx.sauder.ubc.ca The same has happened in the last year. Gold is up 15% in US dollars but down 3% in Canadian dollars.

To: IngotWeTrust who wrote (96053)	10/11/2003 10:39:31 PM
From: Gabe Heti	Read Replies (1) \| Respond to of 116927

To complete the argument, with the US dollar falling 26% wrt the Euro and the Canadian dollar rising 21% wrt the US dollar, the Canadian dollar will drop by around 5% wrt the Euro. So the US$ will fall 26% and the C$will fall 5% relative to the Euro, which was my original point. That's 20% of the US$'s fall. I had estimated 50%. Incidentally, while gold rose 15% in US$ and fell 3% in C$, the C$ rose 19% relative to the US$ in the last 12 months. The same as the difference between the performance of gold in those two currencies of course (15%-(-3%))=18%. Close enough. Simple math.