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

To: Crimson Ghost who wrote (15111)	8/1/1998 11:16:00 AM
From: Giraffe	Read Replies (1) \| Respond to of 116759

>>Gold's horrible technical action and complete inability to rally on good news << What's so horrible about gold's technical action? As far as I can see its just slowly building a base. Its only horrible if you're looking for a quick return or you're holding junior golds. As for good news ... I can't recall much that's been strongly positive for gold over the past six months. Official inflation is low, production remains high and only the usual international confrontations. If the correction in the stock market continues we could see a further drop in the XAU as people sell their gold stocks to make margin calls. But its getting close to the time where we will have to see some movement to the upside or technically it will be horrible. If nothing happens in the next three or four weeks I'll start to get nervous. In the meantime, as Pierre Trudeau would say, the universe seems to be unfolding as it should.

To: Crimson Ghost who wrote (15111)	8/1/1998 1:06:00 PM
From: G.T.	Respond to of 116759

George you are right about gold In my post on July 18 I gave two cases for gold technically. Post # 14639. On friday gold broke down below it's rising trend line of $288 per oz. It looks like $285 is next and $278 if that fails to hold. The U.S. dollar continues to grind world currencies into the ground this cannot continue without grave consequences on the World economy. People that are selling gold are short sighted and will pay dearly in the not to distant future.