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

To: Hawkmoon who wrote (25674)	1/8/1999 1:14:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 116791

Ron, In 1987, the XAU dropped from 157 to about 90 in roughly the same time frame as the DOW dropped from 2735 to 1638. On the day of the crash, October 19, 1987, the XAU waited 'till lunch before crashing right along the DOW. So much for the safe haven of Gold stocks. The big run in the XAU started in June 1996...when the XAU was under 60 and peaked in August-Sept 1987 at 157. This had a nice correlation with the DOW running up. Bonds were essential flat during this time frame but when AG started to hike he crashed the market and gold stocks because he was seen as causing a recession, and gold stocks will not do well anticipating a recession. Note: these numbers are off the top of my head and may not be exact but they are accurate enough. As far as all this disaster, Y2K, Saddam stuff...it may well result in gold going up and everything else going down but it just hasn't panned out in the past. So I don't bet that way...

To: Hawkmoon who wrote (25674)	1/8/1999 1:19:00 PM
From: Gord Bolton	Respond to of 116791

Well Ron, When I was 19 and gave my girlfriend a nice gold necklace- well she really liked it!