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

To: Chispas who wrote (96610)	12/5/2003 5:54:02 PM
From: Chispas	Read Replies (1) \| Respond to of 116871

MORE speculation re. Barrick...(USA Gold) ''''''''''''''''''''''''''''''''''''''''' "..in 2000 we found out that at an average of $340 an ounce gold, Barrick's hedgebook was near "break even". Now with gold at $406 an ounce with about 16 million ounces sold forward, the company is on the brink of failure should gold rise much further because the banks will likely call in for a return of their gold. It ain't coming back anytime soon and this is a secular (not cyclical) bull market that will run for several years. No wonder hedgebook architect and former CEO Randall Oliphant got his walking papers. There are a lot of scared managers at Barrick and for good reason." - Black Blade

To: Chispas who wrote (96610)	12/6/2003 10:50:37 AM
From: Gabe Heti	Read Replies (1) \| Respond to of 116871

It's clear that as the US dollar falls, gold will rise in terms of the dollar and that US citizens should be buying gold. In the last two years gold has risen almost 50% in dollar terms. What about those who operate in other currencies? If the dollar continues to fall, say 50% relative to the Euro, gold will rise another 50% in dollar terms, but remain stagnant in Euro terms as it has during the last two years, with a rise of less than 10%. What is the correct strategy with respect to gold for citizens not using dollars in their daily lives? Canadians? Europeans, Chinese?