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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Kerry Phineas who wrote (25086)	12/12/1997 7:04:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 132070

Kerry, 450 years of statistics on gold prices are meaningless in a world which has not seen a meaningful bout of deflation since the price of gold was pegged by the US Treasury. You are right that we are in a new era. Gold is just a commodity now -- subject to the same supply/demand fundamentals that govern the price of all other commodities. And with central banks being net sellers and no inflation in sight, goldbugs are hurting. I'll remain sceptical of the "gold as a deflation hedge" claim until I see the logic of it. SC