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

To: bobby beara who wrote (15624)	8/11/1998 12:15:00 AM
From: PaulM	Respond to of 116766

Some perspective: the $US index is DOWN 10% in the last two weeks. Here's a link with a chart: gold-eagle.com $USLX is a measure of the $US versus other major currencies (which means primarily Europe). MEANWHILE, the yen, aussi dollar, cnd dollar, sa rand, and all emerging market type currencies are plummeting against the $. What is this telling us? 1. Gold is really falling against a basket of major currencies (the only sensible way to measure the value of gold). Stable only against the dollar (and strong against the yen). For the deflationists: realize that gold has already taken a further major hit. 2. The charts suggest $USLX has topped. And that suggests that gold has bottomed against $USLX. That is, POG has bottomed. 3. The global economy continues to fall apart (check out asia tonight). It appears that if any fiat currency is to be the safe haven, it will be the Euro supported by gold, NOT THE $. If not the EURO, then gold alone. 4. U.S. inflation is probably closer than we think.