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

To: Zardoz who wrote (20298)	10/1/1998 5:31:00 PM
From: CIMA	Respond to of 116770

Good morning to you all. For the last several weeks we have reported our refusal to get involved in a bear market trap. At the time, there was no way of knowing the markets were actually in one but we can now confirm the move up to 8200 on the Dow was definitely a small version of the trap. Overnight trading in Europe and Asia has been devastating. Losses on major European exchanges range from 3% in London to almost 6% in Germany. In Asia, the Nikkei continues to plunge with another 1.5% drop and now threatens to break into the 12,000 range. All of this was in reaction to the Dow's 3% drop on Wednesday after major companies such as RJR Nabisco, Goodyear, Northern Telecom and Gillette all put out profit warnings for the third quarter. In addition, the IMF announced the possibility of a global recession is real. As of this morning, the news does not get any better. Both the S&P and Dow futures are off sharply, with Dow futures off 150 points this morning. On the positive front, Gold continues to climb and is now up $2.60 on the October Comex position, to $299.00. This continues to fare very well for our comments made on September 23, in which we stated: ___________________________________________________________________ Here are some points you must consider: 1] An interest rate cut will decrease the value of the $US against most major currencies. Japan is an obvious choice but after this weekend's trouble with banking reform legislation (a bulletin you have received), you may want to look at the German Mark, the Canadian Dollar and the British Pound. 2] Any drop in the value of the $US will be a positive to precious metals, especially <underline>gold bullion</underline> and large gold producing companies. In the US, companies such as <underline>Barrick Gold, Placer Dome and Kinross</underline>. In Canada, those same names can be looked at in addition to smaller-cap names such as <underline>Arizona Star, Bema Gold and Iamgold. </underline>___________________________________________________________________ As usual, we will have more for you as the day progresses. Have a great day. Regards, Agora. The Investor's Investor. Published by Agora International Enterprises Corp. © COPYRIGHT 1997-1998 by Agora International Enterprises Corp. ALL RIGHTS RESERVED Information provided by the Investor's Investor is intended to level the playing field between small and large investors by effectively and swiftly disseminating information to all those interested or in need of information pertaining to stock market event s, global events and any other event which may effect their financial position. Information presented by The Investors Investor is not an offer to buy or sell securities referred to herein. 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