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

To: Broken_Clock who wrote (22635)	11/5/1998 3:53:00 PM
From: Zardoz	Read Replies (2) \| Respond to of 116764

Try converting to another currency. POG effective value is still $279. Consider this: Aug 21 1998 US Dollar index = 102.957 POG = $283.5 DEM/Oz= 509.42 Today US Dollar index = 94.130 POG = $294.0 DEM/Oz= 488 That's a 8.57% decrease in US Dollar, and only a 3.70% increase in GOLD. Which gives an effective decrease of 5.18%, or a DEM/Oz decrease of 4.20%. Yet you see a $283.5-> $294 as a 3.70% increase. Should the US dollar appreciate any time soon, say to 98.00 US Dollar index, the POG would need go to $282 or less. So this retracement in the POG really means little. Question is, can it be substained? Or was it just due to closing of open interests.