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

To: menanna who wrote (10863)	4/28/1998 4:59:00 PM
From: Bo Bob Brain	Read Replies (2) \| Respond to of 116770

My guess is that June gold will test the gap at $305-50- $306.50. Generally, gold stocks lead the XAU. The June S&P may test the 1080 mark. Elliott Wave theory suggests one new set of highs. Watch the upcoming employment cost index report. Bro.

To: menanna who wrote (10863)	4/28/1998 6:42:00 PM
From: goldsnow	Respond to of 116770

>>POG lower & XAU up! this divergence should prove something to all.> Care to venture on what would that be? >> Sentiment Rules! Although as your healthy skeptisism implies it does not make sense! But...XAU components such as ABX, PDG that have sold forward tons of gold at prices $360-400, ABX 2 year production! went down on sentiment without any regard to future earnings...True exploration was sharply curtailed, assets re-valued, but all has to do with sentiment, as latter improved, rotation started..clearly money leaving stocks are going back to stocks,,this time gold stocks as many funds are under weighted in gold (for them XAU) all they care is no longer POG it does not change ABX earning a bit and ironically if POG go over $400 ABX will be in much less position to capitalise on that (too much sold forward than say SA stocks) Historically even more important (short term) is aquisition activity and it has picked-up sharply (PDG, Harmony earlier HM) Things looking-up!! Sentiment rules now if only Italians like you come through RE: Bank of Italy desire for 30% EMU in Gold (<VBG>