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The dollar is down in terms of the dollar only. If you were in Euros, Francs or
Marks you would have made a fortune in gold. We seem to always reference things
in our, US, currency and forget that the rest of the world would have enjoyed a
great run in gold. Ira
James Taylor wrote:
> True, it seems that every time the Dow rallies, the gold market takes a hit.
>
> The missing piece here is, that the US Dollar has been taking on water.
> No matter what the Dow does, the general perception is that Bush's
> Presidency will
> be negative for the strength of the dollar.
>
> The following reasons for that:
> 1) his tax cut policy
> 2) his Treasury secretary is know for a weak dollar policy, there is a
> belief that he will want a weaker dollar to
> help lower the massive US Trade Deficit.
>
> Since the US dollar is the fiat currency of choice for the world (for now
> anyway), any weakening in the dollar should bring strength to gold. The
> last two times gold has made a run at the trendline, it has been on violent
> vertical moves. This time, it has been gradual, and gold prices seem to
> have made a base. Looks like a good risk/reward trade to me at these
> prices. Hope it holds.
>
> Wouldn't be surprised if some gold related news broke this week to ignite
> the gold fuse.
>
> James
>
> ----- Original Message -----
> From: "STUART AUSLANDER" <u.stuart-auslander@xxxxxxx>
> To: <realtraders@xxxxxxxxxxx>
> Sent: Monday, December 25, 2000 9:47 AM
> Subject: Re: [RT] Big Move in Gold Prices Coming Soon
>
> > My reading of the charts of gold stocks researching them back over 70
> > years indicates that major changes in direction (at least a year) in
> > this group of stocks is preceeded by heavy volume at bottoms. I don't
> > see it here. Consequently I am skeptical that we would be having a
> > major reversal to the up side. I have no strong opinion on the shorter
> > term except to suggest that as the DOW keeps getting stronger the
> > counter trend rally in gold will loose the followers that are trying to
> > escape the DOW BEAR.
> >
> > James Taylor wrote:
> >
> > > For educational purposes only: Gold is testing a downtrend line
> > > spanning over 1 1/2 years, and will likely break thru it, sending
> > > prices sharply higher in the coming week. As prices have fallen in
> > > gold over this period, the open interest has also decreased,
> > > signifying that the market is strong and ready to turn around and
> > > advance. Gold prices have risen from $270 to over $275 during the
> > > last few weeks. Copper prices have risen and the stock prices of
> > > gold producers have also risen, foretelling of gold's likely advance
> > > here. Possible ways to take advantage of this move in gold:1) buy gold
> > > futures2) buy the stock of gold mining companies: NEM (Newmont
> > > Mining), ABX (Barrack Gold), HM (Homestake Mining)
> > >
> > >
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> >
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>
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