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To: Gabe Heti who wrote (9235)	4/3/1998 12:49:00 PM
From: Bruce McGaughey	Respond to of 116762

Xau- I'm not really sure what's in the XAU, but it is an index of gold stocks. I think they include spot prices of metals, too, but I'm not sure how that works. Biggest weightings in the XAU belong to PDG and ABX. Think of it as an index, much the same as the Dow or the S & P 500, only with gold stocks.

To: Gabe Heti who wrote (9235)	4/3/1998 1:01:00 PM
From: Bruce McGaughey	Respond to of 116762

Keep your eye on "The Privateer" this weekend. They have a great URL devoted to technical analysis of gold. Things have really been looking up, lately. the-privateer.com

To: Gabe Heti who wrote (9235)	4/3/1998 1:02:00 PM
From: MtnBear	Read Replies (1) \| Respond to of 116762

Gabe, The XAU (usually called up on charting programs as $XAU.X) is an index like the DOW, which is made up of primarily gold and silver stocks. Sorry I do not know all of the components or weightings, but I do know it is heavily weighted in the major golds (like Barrick and Placer Dome). I do not trade futures, so don't know if it is futures tradable. The thing is, it is somewhat of a proxy for the entire gold and silver complex, and for those interested in technical analysis, it lends itself beautifully to all sorts of chart work. I refer you to a recent thread on the relationship of the XAU to POG on the SI companion Mutual Fund-Gold and Precious Metal site: www3.techstocks.com. Others here may have more to offer; hope this helps. Best regards and good luck; Mtn Bear

To: Gabe Heti who wrote (9235)	4/3/1998 1:57:00 PM
From: Mark Bartlett	Respond to of 116762

Gabe, If you (or anyone else)would like to learn more about the XAU, go to: phlx.com This gentleman has an excellent web site. Best to all, MB