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

To: Gary H who wrote (18522)	9/11/1998 3:38:00 PM
From: The Fix	Respond to of 116897

Gary H, YUP!

To: Gary H who wrote (18522)	9/11/1998 3:39:00 PM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116897

Brazil market up big time.. let's see for how long..that might be more of clue to DOW and gold currently ..just guessing

To: Gary H who wrote (18522)	9/11/1998 4:13:00 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 116897

Gary, CNBC just had on a couple of interesting guests. One was market analyst Jerry Favors who's predicting a rally to 8100, then a retest of 74 to 7500 area. He expects the retest to fail and a significant low to occur in October. Then a rally from there and what may be the final low next March. 40 to 50% decline from top predicted. A second guest pulled up a chart on world dollar liquidity which showed a similar pattern now to the 1973 timeframe that led to the bear market back then. Liquidity has fallen from 12 to 15% through the 90's to -4.6% at the moment. --Alan

To: Gary H who wrote (18522)	9/11/1998 4:53:00 PM
From: goldsnow	Respond to of 116897

Canadian Gold Stocks Climb On International Turmoil 04:27 p.m Sep 11, 1998 Eastern By Paul Simao TORONTO (Reuters) - Canadian gold stocks began to shed their anemic image Friday as political uncertainty in the United States and fears of a growing financial crisis in Latin America pushed bullion prices to a three-month high. Gold and precious minerals stocks gained an average two percent on the Toronto Stock Exchange, Canada's most important stock market, helping to sustain a 37-percent rally over the past two weeks. A falling U.S. dollar, the safe-haven of choice recently for skittish international investors, once again boosted confidence in gold. Gold bullion touched a high of $296 an ounce Friday before profit-taking took it back to $293.40 an ounce. Gold closed at $290.20 an ounce Thursday. Nervous investors dumped the U.S. dollar as questions about President Clinton's ability to survive a growing political crisis continued to swirl in international equity and foreign exchange markets. A contrite-sounding Clinton appealed yet again for forgiveness Friday as U.S. lawmakers released to the public part of a report detailing his extra-marital affair with former White House intern Monica Lewinksy. The report by independent counsel Kenneth Starr could trigger a move to impeach Clinton and terminate his presidency. ''Clinton's White House problems are all casting doubt on the U.S. dollar, so gold has regained its traditional safe-haven characteristics. It was de-linked for a while, but my expectation is that the restoration will be beneficial to the gold index,'' said John Ing, president of Toronto-based brokerage Maison Placements Canada Inc. Renewed fears that a global economic downturn may soon engulf Latin America added to gold's renewed luster. Although gold had not benefited from months of financial turmoil in Asia and Russia, the prospect of the contagion sweeping through Brazil and Mexico, prompted worries the U.S. economy, particularly its banking system, could become vulnerable. Ing said he expected Canadian gold stocks would continue to edge upward as gold threatens to breach the key psychological $300-an-ounce level. Mid-sized gold producers, such as TVX Gold Inc. and Goldcorp Inc., were the big winners on the benchmark Toronto Stock Exchange's 300 index. Gold and precious minerals account for five percent of the TSE 300. Toronto-based TVX climbed C$0.30 to C$3.40 a share, or 9.7 percent, while rival gold producer Goldcorp rose C$0.70 to C$6.90 a share, or 11 percent. Some analysts warned the current bullishness toward gold might be premature. Canada's gold stock index remains firmly planted in negative territory, having lost 10 percent of its value since the beginning of the year. ''I think this is more of a short-term rally. Every time we get a little rally in gold, people think there has been a sea change in the industry. The market has been fooled so many times and I see no reason why this is such a remarkable change,'' said Manford Mallory, analyst with Toronto-based brokerage Research Capital Corp. Mallory said it would be difficult to sustain the price of gold much above $300 an ounce during the next two years. Copyright 1998 Reuters Limited. PS. It is incredible how can anyone forecast Gold prices two years ahead with strait face....Those People do not even know about things like Nikkei forget Gold...They have no clue about Correction vs Bear (look at Goldman...)