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

To: Crimson Ghost who wrote (5502)	1/9/1998 4:02:00 PM
From: philv	Read Replies (3) \| Respond to of 116753

George S.Cole: In that gold is reacting opposite to expectations based on tradition and history, leads one to speculate as to manipulation. But every argument trying to explain the POG has its flaws. Central Bank selling as it turns out has not been unusual this past year, and demand is up some 16 percent. Yet the price is down in the midst of the most severe world-wide financial crisis in recent memory. It is this mystery, contradiction, that holds most of us, and from it springs the hope that eventually things will be corrected. But in the meantime, much damage is being inflicted. Hopefully we will all be around when the dust finally settles, and I for one will have this great mystery answered. But my fear is that I won't like the answer. Phil

To: Crimson Ghost who wrote (5502)	1/9/1998 4:20:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 116753

George, I am still really mad! I tried to open a position with ABX leaps and my brokerage messed up the order so I missed out by 1/16th on the bid. FWIW, at these prices for ABX with their hedge, it seems like a no brainer. I can't see much more downside for the Majors(ABX especially). Dave

To: Crimson Ghost who wrote (5502)	1/9/1998 5:01:00 PM
From: John Stopforth	Read Replies (1) \| Respond to of 116753

George The key is interest rates. If the Fed refuses to lower rates at their next meeting, the stock market has a lot farther to go on the down side. This would just delay the inevitable decline in rates and the increase in the price of gold. It would in fact make the possiblity even greater. If the Fed decreases rates a quarter of a percent, there will be a temporary slowdown in the market decline and a move of gold back up to $300/ounce. This is what I perceive as the next move. With the decrease in earnings however the market will decline even further. The Fed will have to lower rates at least three quarters of a percent to calm the markets which I think is unlikely at present. When rates are lowered in future months the dollar will weaken and gold will rise. I've been following the Fed for ten years now and this is the first time, IMHO, they have dropped the ball. John