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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Link Lady who wrote (16295)	8/29/1998 8:22:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 18056

Gold, Oil Prices Pushed Lower by the Turbulence washingtonpost.com << The turmoil in Russia that shook the stock market this week also helped push down the prices of oil and gold, two commodities that already were trading well below where they were a year ago. Part of the reason was fear that Russia could sell two things it has in relative abundance -- gold and oil -- for something it has very little of -- hard currency. But analysts who follow the two commodities said the underlying trends that have pushed down prices for some time probably had a greater effect than recent fears about Russia. >> Hi Wendy, I bought a little of the Pengrowth oil & gas trust units for my RRSP (1/4 of final position) and I may add more next week. From what I understand, Russia was already exporting all the oil it could, so it is unlikely to dump any. Slower economies mean lower oil and gas consumption but I am speculating on a colder winter and perhaps an oil price surge on any terrorist scare. Because of the continued weakness, I passed on adding any gold stocks Friday, at least we get some kind of a double bottom on an intraday basis. John