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Gold/Mining/Energy : A Deadcat Bounce -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (82)	1/12/1998 1:47:00 AM
From: Tommy D	Read Replies (2) \| Respond to of 97

I have been cruising aroundon other sites and have seen some optimism that Gold has bottomed. I have no ability to assess the technical aspects of the price of gold but everything I read said that $280 was a serious resistance spot so with gold at $278, I am not sure why people are believing that gold has bottomed out. However, I note on Kitco that gold is flat over in Asia this evening. Not sure if that reflects a lack of information by Kitco or represents the actual market. Seems to me that if New York tanks tomorrow in a big way, that gold will also fall significantly (to $270 or perhaps lower) as no one seems to associate increases in the price of gold when there is turmoil as was the case in the past. The next big technical price level is around $260 but if gold sticks below $280 for any period of time, seems to me we will start losing production in a big way as even many of the established gold companies will be losing money on every ounce produced unless they have forward sold all or a portion of their production. I am told there is a site where someone summarizes the cash and other costs of each producer. That would be very interesting to look at. If you are aware of the web site, I sure would appreciate getting the location from you. Regards Tommy