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

To: goldsnow who wrote (14319)	7/9/1998 8:09:00 PM
From: Al Gordon	Respond to of 116758

It is getting increasingly difficult to believe that Japan is going to "bite the bullet".I'd bet a 67cent loonie that their bad loans are far far worse than they've been letting on and that there is literally nothing they can do now.The talk is finally wearing thin, Tax reform blah blah Bank reform blah blah We need a strong yen.Sure. What I'm wondering is will the CB's really let gold drop much further like some are predicting or will they keep a floor under the POG at these levels?It's hard to really know what happens at the LBMA and they trade the lion's share of gold.If CB's lend gold to producers in the forward markets how do they get their gold back if producers start shutting down their operations?So it may seem in the last 3 weeks the POG is directly tied to the yen but I wouldn't be surprised if gold stays steady at these levels or even(dare i suggest)rallies as the world devalues against the U.S.Should be veeeeerrry interesting