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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Odi Handoko who wrote (4744)	1/13/1998 10:17:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 14226

Odi, Your points are well taken. You state Now US$ is strong but human perception and confidence are a very strange and volatile thing. I purposefully made reference to the current global economic conditions. Things change and conditions change. But in the current environment well managed currencies are a very attractive alternative to gold. That is the point I made. You show a chart of how various Asian currency holders would have fared had they held gold. Accurate numbers but I believe you are missing one element. The reason gold performed so well is not because of the strength of gold but because of the weakness of those currencies. In each and every case last year gold would have been one of the worst alternatives. Each of those curencies would have shown even larger gains if they had held US dollars, silver, diamonds or many other commodoities. I am not saying that gold hasn't been a refuge for Southeast Asians. What I am saying there were other refuges that were even better. Henry