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

To: ali who wrote (23115)	11/18/1998 3:37:00 PM
From: Giraffe	Respond to of 116857

Today's (short term) signal from buysignals.com Wednesday, November 18, 1998 Buy Gold! Last Signal Buy Banking 11/17/98 Disconcertion with yesterday's weak rate cut reaction extends. Banking should have benefited most and is one of the weakest sectors today. Where are all the buyers who professed renewed enthusiam contingent only upon just one more interest rate reduction? Their failure to perform cautions against paper assets once again. Technically gold stocks are poised for a respectable advance. With near-term resistance in December gold at 304 (now 298), chart patterns confirm XAU potential to last Spring's high around 90 (upper red chart line). This morning's 'gap opening' and intra-day strength are signs of renewed investor awareness of this sector's potential which was bolstered by the Fed's support for commodity prices. (The Fed may not have moved to purposely support commodity prices. They probably recognized that falling base metals and oil were clear signs of lack of inflation which allowed latitude to express their support for global reflation.)