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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Eakole who wrote (861)	11/1/1997 1:50:00 PM
From: William Peavey	Read Replies (2) \| Respond to of 1911

I submit that you are correct, the timing of the announcement was not a coincidence. At the Anaheim Gold Conference last weekend, I believe it was Kennedy Gammage who suggested that because the Swiss are in a recession, their francs are highly valued and that is making it difficult for them to export products. They do not want their currency driven even higher by homeless Southeast Asian panic-driven money pouring in, which would further complicate their present trade problems. Distancing the SwFranc somewhat from the price of gold is seen as a method of discouraging these waves of cash washing back and forth around the world. This hypothesis seemed logical to me. Bill Peavey