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

To: Bobby Yellin who wrote (12992)	6/12/1998 2:22:00 PM
From: JD	Read Replies (1) \| Respond to of 116815

Re possibie head fake. Hi Been in serious L&L mode (lurking and learning) for a while but your comment has drawn me out of the shadows. Don't know if there is a master plan unfolding or not but here are a few out takes from yesterday's CRB daily commentary that are worth the read (CRB italicized). crbindex.com Making that dollar as good as gold ??..... Traders also noted that in recent days, one major New York trade house had been a featured seller, putting heavy pressure on gold. Seems to me gold is doing what it is supposed to do.... protect its owners from fiat failure. "The dollar's move higher has made dollar-denominated gold too expensive to buy in many currencies and has encouraged selling, said traders." Is gold becoming valueless or just relied on too heavily to support currency failure? "Fundamentally I'm positive on gold, but the market is shaky now on currency differentials," final points...... "While gold often does well in times of crisis, the knee-jerk reaction to the latest from Rubin was on the negative side," said one trader. "All things seem to be pointing to lower prices in the near-term," he said, noting that gold is often harmed by economic problems in a low inflation environment. "It looks quite gloomy and we're not expecting a rebound before it gets closer to $280," JD ...back to L&L :-)