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

To: Bobby Yellin who wrote (6063)1/16/1998 9:05:00 AM
From: Crimson Ghost  Respond to of 116782
 
Hi Bobby:

My big mistake last year was in assuming that gold would go up when the stock market stsarted down. I correctly predicted the August Dow top of 8300 and assumed that gold woould bottom at the same time time.

But things turned out to be much more complex. I naively assumed that the the developing global financial crisi would be bullish for gold. But the key to gold really is the U.S. dollar, and to the extent that the Asian meldown hiked the dollar it was very bearish for for the yellow.

But now that the dangers of the super strong dollar are becoming widely recognized and gold has fallen below production costs for many miners, the situation has changed radically.



To: Bobby Yellin who wrote (6063)1/17/1998 2:29:00 PM
From: Crimson Ghost  Read Replies (1) | Respond to of 116782
 
BobbY: I will defer to Zeev on this since he knows much more about the Japanese banking system than I do. From his comments on the Mohan on the Market thread, I gather he feels it is a modest plus, but possibly too little and too late.


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