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

To: Alex who wrote (4499)12/19/1997 6:51:00 PM
From: PaulM  Read Replies (1) | Respond to of 116753
 
Alex whether or not cracks are forming, the $US is not as strong as you may think.

Short term, the downward pressure on the yen will continue, and would probably swamp the yen wihout BOJ intervention.

But--and this seems key in the short term--as a result of years of account surpluses with the U.S., the BOJ has mostly just dollars to sell to support the yen. Much fewer DM's I beleive.

So overall, the dollar should weaken, even if it strengthens against the yen. Despite all the uncertainty, I suspect European currencies will be viewed as the lesser of three evils in the coming days.

And eventually--maybe sooner than we think--investors will come to their senses, end all this silly geographic migration of capital and buy gold.




To: Alex who wrote (4499)12/20/1997 10:56:00 AM
From: Bucky Katt  Read Replies (1) | Respond to of 116753
 
Alex-- Triple witch had a partial impact in the pog the last few days.
The comments from the Germans and the French about gold helped also.
Maybe some are starting to see the huge overhang the C/B's have created by leasing their gold. The amount of gold needed to cover is simply not there. What will happen is a guess.


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