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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (12339)	10/4/2008 2:47:26 PM
From: Cactus Jack	Read Replies (1) \| Respond to of 71479

Box, people with dough, or those who are well informed (one hopes) are buying every scrap they can lay their hands on Do you think the same of silver, or is gold your monetary metal of choice? Just curious. jpg

To: Box-By-The-Riviera™ who wrote (12339)	10/4/2008 3:30:41 PM
From: Killswitch	Read Replies (3) \| Respond to of 71479

No, demand is not really "off the charts" in terms of the entire gold market. In the coin/collectible area, yes it is off the charts, but that is a tiny part of the overall uses of gold worldwide. Something like 75% of gold goes into jewelry uses, and other bits of gold go into industrial/electronic uses. Both of these major areas are tanking hard currently. Jewelry sales on a unit basis are waaay down this year and falling more now. Do not bet on worldwide gold demand as a driver here. With a USD stable or rising, gold will be under the same commodity pressure we see in other commodities due to demand destruction in a bad recession.