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

To: John Hunt who wrote (26843)	1/23/1999 8:06:00 AM
From: lorne	Respond to of 116764

Hong Kong Price Deflation Deepens in December HONG KONG, Jan 22 (AFP) - Hong Kong recorded its second month of deflation in December, with the Consumer Price Index dropping 1.6 percent, figures released Friday showed. Consumer prices fell 0.7 percent in November registering their first decline in 23 years as consumer spending dried up in the face of the severe recession and rising unemployment. The worst hit sectors in December were clothing and footwear, where prices dropped 16.2 percent, and housing rentals, which fell 3.4 percent. chinatimes.com.tw

To: John Hunt who wrote (26843)	1/23/1999 10:39:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116764

Dollar (CDN) out of favour in U.S. - Major Wall St. investment firm advises clients to bet against Canadian dollar << A major Wall Street investment house is warning clients to go light on the Canadian dollar because the currency could be knocked down to record lows by weaker commodity prices in a slowing global economy. But Salomon Smith Barney is also urging investors to hold a fair share of Canadian bonds in their global portfolios, because with almost no inflation and a weakening economy, interest rates should edge lower, bolstering bond prices. -- cont'd -- >> ottawacitizen.com I don't particularly agree with these comments in view of the recent strength in the Canadian dollar, but figured I would post them, since they are out there. ******** Gold Price Forecast I am going on record saying that I think the next move in gold prices will be up, starting sometime next week. I saw something on The Gold Eagle Forum a couple of days ago that really made me think ... Basically the poster said that the shorts in the physical gold could hedge their positions by buying gold shares. This would have the advantage of protecting them while they extracted themselves from their physical gold short positions and at the same time set themselves up to profit from an upward move in gold prices. Until about 10 days ago, the XAU was stronger than spot gold, indicating new public demand. Since then spot gold has held support while the XAU has declined below it, which is consistent with a shaking out of gold shares (the public never sells enough when the share prices are stable or rising). My short term TA, based on Stochastic, CCI, and my own custom 5 day %average volume indicator, is consistent with a bottom forming sometime in the next few days. The false press releases about central bank selling, gloomy brokerage outlooks (as above, but there are many others) also are consistent with this theory. Of course the usual caveat applies - I have been wrong before, so do your own due diligence. Shoot down my theory, if you can. < g >