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

To: Ahda who wrote (1353)	7/2/1998 9:20:00 PM
From: ahhaha	Read Replies (2) \| Respond to of 1911

During the '50s the price of gold was fixed. The gold to bread ratio was 400. The gold to bread ratio is now 150. Nothing effecting the price of gold is different than during the '50s. Gold is psychologically depressed. Gold and oil have been in major bear markets since 1980. The two most valuable things are depressed. You can trot out many reasons to justify this, but inevitably it will change. More bad news on either will not make them go much lower, but many events could make them go much higher. That's why I said that an investor in gold has to wait for the fullness of summer before committing. A trader has to seize the bull by the horns and just guess. Professional sentiment in the gold pits is decidedly negative. There's no reason to buy gold. Without exception through all the years people have told me that you have to buy when something is out of favor. My experience has been that that is correct. Then you buy low.