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

To: Serge Collins who wrote (20844)	10/6/1998 12:52:00 PM
From: TLindt	Read Replies (2) \| Respond to of 116823

>>>Gold is useless in times of crisis. And after playing gold twice in the early 70's and late 70's early 80's...it all depends on your point of view. For Example if you were a Russian...gold don't look too bad when compared to what you have to deal with..aka your local currency. Gold is soaring in relationship to the average Russians' legal tender. So see it does depend on your point of view....country and currency of residence. However even as spectular as gold would have been as an investment to the average Russian the past 12 months....the U.S. Dollar has been much better relative to the local surge in gold prices. However, with gold gaining on the US Dollar after the US market decline, returns in gold have outpaced the returns on US Treasuries, the US Currency or the US Markets...if you are a Russian...Asian, Central American, Euroupian etal...or a US Citizen. If this continues, golds advance over the US Currency expect the other shoe to drop as dollars invested flows into hard assets. Seen it twice before, once with oil shortage, and again under high inflation where gold exploded. The dollar and the US markets have been the defacto safe haven for the globe for parking investment capital...however the question is with the Dow moving averages inverting signaling a bear market...where's the money going to go....seems to be heading into interest rates sensitive stuff like Bonds & Utilities...driving down the yields. However...It's important to note the 1 month rate of return on gold & mining shares valued in US Dollars, our local currency...and that of the average Russian, or other global citizens are outperforming the defacto safe haven....at least for now.....

To: Serge Collins who wrote (20844)	10/6/1998 12:54:00 PM
From: Enigma	Respond to of 116823

SC - I don't think your agricultural commodities would amount to a row of beans - maybe a sack of them in your closet? get serious!! E

To: Serge Collins who wrote (20844)	10/6/1998 4:33:00 PM
From: Enigma	Read Replies (3) \| Respond to of 116823

SC - thinking further about your statement about gold in a time of crisis - a gold coin might buy you a whole lot of those other commodities - depends on the nature of the crisis. Your statement betrays a lack of knowledge of world realities or history - the history of this century - just think what a gold coin would have bought you in the German hyper inflation - or think of the Nazis extracting gold from the teeth of concentration camp victims. They did it because of gold's lustre. You can't equate gold to perishable commodities. Gold is a medium of exchange and a store of value - it is still the only real money - it can be sold anywhere, knows no borders. . E