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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Bo Bob Brain who wrote (1170)	6/10/1998 11:19:00 PM
From: Bo Bob Brain	Read Replies (1) \| Respond to of 1911

An unconfirmed rumor that some Japanese oil company lost $10 billion may have contributed to the decline in stocks today. An interesting quote from Greenspan today " the current economic performance with it's combination of strong growth and low inflation is as impressive as any I've witnessed in a half century of daily observation of the American economy." This is as good as it's ever been (thanks to Mr. G., Clinton, and everyone else.) Everyone wants to take credit. When you go to movies and the credits are rolling, the movie is almost over and it's time to get out. Many things working against gold and silver today. The dollar was one of the factors which went up sharply today. Concerns about the European Central Bank which said that 10-15% of assets should be held in gold reserves. What are all the central banks in Europe, when they combine to be the European Central Bank, going to do with all the gold that they have? Will they loan it, sell it, what's going to happen? (Many times when the CB's announce a gold sale, the gold is actually lent to another CB.) The Australian dollar fell to a new 12 year low, which will put pressure on the metals because alot of the producers will forward sell gold which will impact the market. A tell tale sign for silver Tuesday when it couldn't fulfill the gap at $5.49-$5.55, hit $5.48 and came back down closing at $5.318. Looking for silver to test $4.92. July silver is currently unchanged, while August gold is up .30.