There are two types of rates out there which affect the situation.
The first, the long bond rate is set by the demand for the dollar bond as the price of the interest paying bond moves up or down. This is the international market speaking. Today it is 5.421%, and used to be over 6% not too long ago. Since then gold has cratered.
As the demand for dollars increased, due to flights to the dollar due to other currencies falling/collapsing/devaluing, the value of the dollar went up and therefore commodities of all kinds measured in dollars went down, including gold and just about everything in the CRB index. As long as there is this continued demand for the dollar, gold won't go up much and gold rallies will be short-lived.
The other rate is the short term rate set by the Fed, basically known as Federal funds, now at 5.5% ( more than the long bond rate ) The Fed can control this through daily insertion or withdrawal of cash to banks and it is announced on CNBC. Changing the discount rate for bank loans is another method. This way, the Fed can control the short term rate, which the banks refer to in order to set their 'prime' rate, set by banks.
Since the Japanese interest rate to investors is only .5%, people borrow yen and buy dollars. Therefore, demand for dollars goes up and the dollar goes up and yen go down and gold goes down. The decreasing long bond rate is the market method of adjusting. However, if the Fed keeps the short term rate high ( relatively high at 5.5% ) , the dollar will stay high and gold low. The short term rate is not market driven.
Therefore, if the short term rate were lowered by Fed policy, demand for dollars would decrease ( by how much is anyone's guess ) and gold would go up.
All things being equal, if prime went to 2%, the dollar would fall and gold would go up. IMHO, gold is down because the dollar is up. Bring down the dollar and gold will rise. It's just a matter of time. The strong dollar is strangling other economies by robbing them of investor money.
There are two types of rates out there which affect the situation.
The first, the long bond rate is set by the demand for the dollar bond as the price of the interest paying bond moves up or down. This is the international market speaking. Today it is 5.421%, and used to be over 6% not too long ago. Since then gold has cratered.
As the demand for dollars increased, due to flights to the dollar due to other currencies falling/collapsing/devaluing, the value of the dollar went up and therefore commodities of all kinds measured in dollars went down, including gold and just about everything in the CRB index. As long as there is this continued demand for the dollar, gold won't go up much and gold rallies will be short-lived.
The other rate is the short term rate set by the Fed, basically known as Federal funds, now at 5.5% ( more than the long bond rate ) The Fed can control this through daily insertion or withdrawal of cash to banks and it is announced on CNBC. Changing the discount rate for bank loans is another method. This way, the Fed can control the short term rate, which the banks refer to in order to set their 'prime' rate, set by banks.
Since the Japanese interest rate to investors is only .5%, people borrow yen and buy dollars. Therefore, demand for dollars goes up and the dollar goes up and yen go down and gold goes down. The decreasing long bond rate is the market method of adjusting. However, if the Fed keeps the short term rate high ( relatively high at 5.5% ) , the dollar will stay high and gold low. The short term rate is not market driven.
Therefore, if the short term rate were lowered by Fed policy, demand for dollars would decrease ( by how much is anyone's guess ) and gold would go up.
All things being equal, if prime went to 2%, the dollar would fall and gold would go up. IMHO, gold is down because the dollar is up. Bring down the dollar and gold will rise. It's just a matter of time. The strong dollar is strangling other economies by robbing them of investor money.
You might want to check out on Matt Drudge today what Evans-Pritchard Jones is saying about the president -- I think E-P J is right that the president is history when the Monica Lewinsky tapes become public knowledge. Just as with Nixon, formal impeachment proceedings will not be necessary, only constant innuendo in the news about this and that until the Democrats will be more eager to get rid of him than the Republicans. Even now Dick Gebhardt is mentioning the 'I' word.
The only question will be when and how WJC leaves the White House. His supporters could turn on him. I do not envy WJC, as there may be a feeding frenzy. I wonder -- what does Hillary think of all this? -- She is the more aggressive one. She may be thinking of jumping ship if she can. What reason would she have to stick around if WJC is history?
You might want to check out on Matt Drudge today what Evans-Pritchard Jones is saying about the president -- I think E-P J is right that the president is history when the Monica Lewinsky tapes become public knowledge. Just as with Nixon, formal impeachment proceedings will not be necessary, only constant innuendo in the news about this and that until the Democrats will be more eager to get rid of him than the Republicans. Even now Dick Gebhardt is mentioning the 'I' word.
The only question will be when and how WJC leaves the White House. His supporters could turn on him. I do not envy WJC, as there may be a feeding frenzy. I wonder -- what does Hillary think of all this? -- She is the more aggressive one. She may be thinking of jumping ship if she can. What reason would she have to stick around if WJC is history?
I agree with you that gold bullion has bottomed, IMHO -- even in the US dollar.
And, who would guess that the commodity futures price index ( CRY0 ) would drop as much as it has. Given all the 'fiat' currency price inflation over the last 20 years, my guess is that the CRY0 index is already oversold. Spot price commodity price indices may already be bottoming.
I agree with you that gold bullion has bottomed, IMHO -- even in the US dollar.
And, who would guess that the commodity futures price index ( CRY0 ) would drop as much as it has. Given all the 'fiat' currency price inflation over the last 20 years, my guess is that the CRY0 index is already oversold. Spot price commodity price indices may already be bottoming.
Now Russia has imploded, Japan is teetering, China has internal unrest, and South America is looking real bad. Also looks like the gold fire sales are probably over -- or almost over.
The script is not fully written -- we may not duplicate exactly the events of the late 20's culmonating in 1929 -- but things are similar. The main differences I see is the the huge earnings resource of the baby boomers ( as long as the economic machine holds up ) , massive US debt incontrast to the American wealth cushion available during the depression, and the fact that our current president is up to his eyeballs in impeachment proceedings -- or threats of same.
Now Russia has imploded, Japan is teetering, China has internal unrest, and South America is looking real bad. Also looks like the gold fire sales are probably over -- or almost over.
The script is not fully written -- we may not duplicate exactly the events of the late 20's culmonating in 1929 -- but things are similar. The main differences I see is the the huge earnings resource of the baby boomers ( as long as the economic machine holds up ) , massive US debt incontrast to the American wealth cushion available during the depression, and the fact that our current president is up to his eyeballs in impeachment proceedings -- or threats of same.
http://biz.yahoo.com/finance/980827/markets_ca_1.html
Canadian friends -- please protect yourselves -- the US dollar will be going down -- eventually. But for now it is going up. We could reach $0.50 US per Canadian dollar in less than 12 months, given what has happened to other non-US currencies.
http://biz.yahoo.com/finance/980827/markets_ca_1.html
Canadian friends -- please protect yourselves -- the US dollar will be going down -- eventually. But for now it is going up. We could reach $0.50 US per Canadian dollar in less than 12 months, given what has happened to other non-US currencies.
The cooling effects of La Nina are here. But -- I don't have a clue what that means about US weather. Or -- this winter for that matter.
The cooling effects of La Nina are here. But -- I don't have a clue what that means about US weather. Or -- this winter for that matter.
But - the financial reserves available from increased taxation will not be there.
We could have one last US market rally -- but not yet.
But - the financial reserves available from increased taxation will not be there.
We could have one last US market rally -- but not yet.
Would be interesting to see whether the same thing happened to the British pound sterling prior to its demise in the early thirties.
Would be interesting to see whether the same thing happened to the British pound sterling prior to its demise in the early thirties.
I don't really think this is a worldwide conspiracy as some would say, but only the inevitable sequence of events. The problem is, most people -- even Europeans these days -- are accustomed to trade with 'fiat' currency in their daily affairs, not precious metals. So -- during times of crisis they rush for the currency considered to be the most stable -- at the moment, the US dollar. Must be a corollary of Gresham's law.
But -- eventually even the US dollar will be seen for what it is. And -- the use of gold as currency in the hands of the public will return -- to the consternation of the fiat currency crowd, who may feel that they must do something drastic.
I don't really think this is a worldwide conspiracy as some would say, but only the inevitable sequence of events. The problem is, most people -- even Europeans these days -- are accustomed to trade with 'fiat' currency in their daily affairs, not precious metals. So -- during times of crisis they rush for the currency considered to be the most stable -- at the moment, the US dollar. Must be a corollary of Gresham's law.
But -- eventually even the US dollar will be seen for what it is. And -- the use of gold as currency in the hands of the public will return -- to the consternation of the fiat currency crowd, who may feel that they must do something drastic.
Gee -- I vaguely remember that we put someone on the moon - more than once. How did we do that?
all: Well, anyone who thinks we are not in a deflationary mode, look at the XAU. I think this is new territory. I would guess that Donald will tell us later that the XAU/gold ratio is at a twenty year low. It will be interesting to see if gold stays about 280/oz.
Severe deflationary eposides like this occur only approximately every 60 years or so, so few of us have any prior experience with this. Whatever you do, please try to avoid getting squashed by the runaway freight train! This is certainly a time to buy physical, or sit on the sidelines with cash. Keep your powder dry!
Rats -- I forgot about that last 10k in silver stocks. Oh well, its 5k now. You should see what diamond stocks and Debeers are doing. Well, even the Rothschilds are taking a bath on some things.
Gee -- I vaguely remember that we put someone on the moon - more than once. How did we do that?
all: Well, anyone who thinks we are not in a deflationary mode, look at the XAU. I think this is new territory. I would guess that Donald will tell us later that the XAU/gold ratio is at a twenty year low. It will be interesting to see if gold stays about 280/oz.
Severe deflationary eposides like this occur only approximately every 60 years or so, so few of us have any prior experience with this. Whatever you do, please try to avoid getting squashed by the runaway freight train! This is certainly a time to buy physical, or sit on the sidelines with cash. Keep your powder dry!
Rats -- I forgot about that last 10k in silver stocks. Oh well, its 5k now. You should see what diamond stocks and Debeers are doing. Well, even the Rothschilds are taking a bath on some things.
J: Disagree - I personally don't think this is the time to build up debt, but instead to pay it off. Also, if this is a bear, it won't be "soon" that you buy back into the market, it'll be quite a long time. Just look at the Japanesse bear, there were people who ran in and bought Japan after it tanked and well, they've lost tons of money since then too, because it's still tanking, and will continue to tank. Cheaper than before doesn't mean cheaper.
J: Disagree - I personally don't think this is the time to build up debt, but instead to pay it off. Also, if this is a bear, it won't be "soon" that you buy back into the market, it'll be quite a long time. Just look at the Japanesse bear, there were people who ran in and bought Japan after it tanked and well, they've lost tons of money since then too, because it's still tanking, and will continue to tank. Cheaper than before doesn't mean cheaper.
By the way, what did happen to all the passengers after you ejected?
On a more serious matter, I dont recall a single day drop in the US markets like this in years. They are beginning to behave like some other markets we know all too well. What worries me is that Canada may start to do what South America is doing, despite the efforts of the Bank of England.
I wonder how many gold mines were promised to the Bank of England for their support. Can't believe the BOE came to Canada's support for nothing. Good thing Canada has lots of natural resources.
So -- how much more of a drop before the baby boomers jump in? Or are they more sophisticated than we think they are? And any idea just how much gold went down? I'm not sure -- I think it is still above 280/oz, despite the XAU and CRY0 carnage.
Fairly soon, I think, CRY0 will be oversold, and come about. Will be interesting to see what gold stocks do then. Notice how gold stocks still tend to go down faster than the general equity markets? Must be alot of chicken investors out there who do not think long term -- goldwise at least. Alot of gold equity bargains ahead for those who keep their powder dry. Of course you can play it safe and buy physical gold. I'll bet the numismatic gold coin demand has doubled in the last week -- especially in Europe.
What we need now is a really good, solid rumor that the Rothschilds or Warren Buffett or G Soros are bying gold stocks. Probably not until the US markets drop some more, or come around -- and CRY0 bottoms. This deflation we are experiencing is probably a delayed effect of the Oct 97 SEAsian crisis. Unfortunately, we are having a Russian and South American and Japanes crisis right now. And, in several months, all those derivatives losses will surface. Then we will find out who lost, and who didn't.
By the way, what did happen to all the passengers after you ejected?
On a more serious matter, I dont recall a single day drop in the US markets like this in years. They are beginning to behave like some other markets we know all too well. What worries me is that Canada may start to do what South America is doing, despite the efforts of the Bank of England.
I wonder how many gold mines were promised to the Bank of England for their support. Can't believe the BOE came to Canada's support for nothing. Good thing Canada has lots of natural resources.
So -- how much more of a drop before the baby boomers jump in? Or are they more sophisticated than we think they are? And any idea just how much gold went down? I'm not sure -- I think it is still above 280/oz, despite the XAU and CRY0 carnage.
Fairly soon, I think, CRY0 will be oversold, and come about. Will be interesting to see what gold stocks do then. Notice how gold stocks still tend to go down faster than the general equity markets? Must be alot of chicken investors out there who do not think long term -- goldwise at least. Alot of gold equity bargains ahead for those who keep their powder dry. Of course you can play it safe and buy physical gold. I'll bet the numismatic gold coin demand has doubled in the last week -- especially in Europe.
What we need now is a really good, solid rumor that the Rothschilds or Warren Buffett or G Soros are bying gold stocks. Probably not until the US markets drop some more, or come around -- and CRY0 bottoms. This deflation we are experiencing is probably a delayed effect of the Oct 97 SEAsian crisis. Unfortunately, we are having a Russian and South American and Japanes crisis right now. And, in several months, all those derivatives losses will surface. Then we will find out who lost, and who didn't.
Perhaps an extraterrestrial Kitcoite could come to the rescue and drop in. Too bad the flight characteristics of such a craft can't be duplicated in the markets -- you would make AG tickled pink if you could come up with something really crashproof. Boy, do they need that now. Infact they need multiple craft. Tall order.
What really frustrates me is knowing that the only crashproof 'fiat' equity market is one that has already crashed, and shaken out all the debt and other excess baggage. We're not even close to post-crash safety yet.
What are you going to tell all those new passengers -- or did the old ones make it? Come to think of it -- if the old ones from yesterday turnup -- how many will want to volunteer for another flight tomorrow? I'll bet they would rather watch a Steven King movie with a JD instead.
Perhaps an extraterrestrial Kitcoite could come to the rescue and drop in. Too bad the flight characteristics of such a craft can't be duplicated in the markets -- you would make AG tickled pink if you could come up with something really crashproof. Boy, do they need that now. Infact they need multiple craft. Tall order.
What really frustrates me is knowing that the only crashproof 'fiat' equity market is one that has already crashed, and shaken out all the debt and other excess baggage. We're not even close to post-crash safety yet.
What are you going to tell all those new passengers -- or did the old ones make it? Come to think of it -- if the old ones from yesterday turnup -- how many will want to volunteer for another flight tomorrow? I'll bet they would rather watch a Steven King movie with a JD instead.
Perhaps an extraterrestrial Kitcoite could come to the rescue and drop in. Too bad the flight characteristics of such a craft can't be duplicated in the markets -- you would make AG tickled pink if you could come up with something really crashproof. Boy, do they need that now. Infact they need multiple craft. Tall order.
What really frustrates me is knowing that the only crashproof 'fiat' equity market is one that has already crashed, and shaken out all the debt and other excess baggage. We're not even close to post-crash safety yet.
What are you going to tell all those new passengers -- or did the old ones make it? Come to think of it -- if the old ones from yesterday turnup -- how many will want to volunteer for another flight tomorrow? I'll bet they would rather watch a Steven King movie with a JD instead.
Perhaps an extraterrestrial Kitcoite could come to the rescue and drop in. Too bad the flight characteristics of such a craft can't be duplicated in the markets -- you would make AG tickled pink if you could come up with something really crashproof. Boy, do they need that now. Infact they need multiple craft. Tall order.
What really frustrates me is knowing that the only crashproof 'fiat' equity market is one that has already crashed, and shaken out all the debt and other excess baggage. We're not even close to post-crash safety yet.
What are you going to tell all those new passengers -- or did the old ones make it? Come to think of it -- if the old ones from yesterday turnup -- how many will want to volunteer for another flight tomorrow? I'll bet they would rather watch a Steven King movie with a JD instead.
Perhaps somone could write a computer program that could calculate how much any particular entity won or lost -- but that would require much more market regulation than the current OTC world derivatives market currenty has. Black and Scholes may live to rue the day that they got the derivatives markets really rolling -- sort of like nuclear energy for the markets. Useful if well controlled, but deadly if unregulated. We got the latter, and the OTC regulation will not come till after the crash.
Perhaps somone could write a computer program that could calculate how much any particular entity won or lost -- but that would require much more market regulation than the current OTC world derivatives market currenty has. Black and Scholes may live to rue the day that they got the derivatives markets really rolling -- sort of like nuclear energy for the markets. Useful if well controlled, but deadly if unregulated. We got the latter, and the OTC regulation will not come till after the crash.
With all the turmoil, it is hard to know which way to look these days. Probably the best thing to do is hunker down and wait for all the missles and other flying objects to stop flying around. I'll bet RR may be a little exhausted by now.
With all the turmoil, it is hard to know which way to look these days. Probably the best thing to do is hunker down and wait for all the missles and other flying objects to stop flying around. I'll bet RR may be a little exhausted by now.
Australia 2543.6 -17.0 -0.66%
New Zealand 1832.36 -78.47 -4.11%
Australia 2543.6 -17.0 -0.66%
New Zealand 1832.36 -78.47 -4.11%
Gold makes new lows..............hmmmmmmm. D.A. - like takin candy from a baby.......oh, what's that? We had no bet?? Bummer....... ( for me ) ...
Been doin alot-o back readin ( puta is in trouble again and postin from trabajo ) ) and something struck me that I had to repost. It is from our local Broke-Dude-RJ ;- ) He has been stating that gold will hold it's lows or there will be some big producer buying at below 280 or some short covering rally............. ( which EB will sell into ) ..................and stuff. And then he posted two sentences that I ad to re-read.....twice. Here she is......'tis ONLY from two days ago.
-----------------------------------
Date: Tue Aug 25 1998 21:38
RJ ( ..... You mean TA not T&A....yes? ..... ) ID#411259:
Copyright 1998 RJ/Kitco Inc. All rights reserved
Beware the Russians. They dont really have enough gold to send the market in a
tailspin should they decide to sell some quick, but the news will be good for a $5 drop.
OK
--------------------
this was right after he said:
A bit-o-both. There is a major 18 year bottom in place. So much for the TA.
It will be simple support. CBs are becoming buyers of gold. Remember when I tried to
explain that the CBs are traders too? Seems they are now at liberty to buy gold at 280,
that they sold for 330, 350, etc. Perhaps those whose railed against the Central Banks
for their cursed gold sales can now catch a glimmer of how and why these sales
happen. The Bankers are laughing all the way to the...... well..... nowhere actually, they
ARE the bank..... no where to whistle to, except maybe the water fountain.
Also even therefore indeedy, gold producers are buying back their forward sales -
again at tidy profits. These two factors, working in concert should keep gold above the
lows. There will be more leasing and sales as the year winds down, but it will be bound
in a tight range and I think 278 will hold.
---------------------------------
Well, RJ ole buddy.......ya done good. AGULP to ya! Even though I told ya the bottom wouldn't hold ...... ( big grin thingy ) . Ya' all would do well to read some of his stuff and take heed once in a while...........ohmy?
Now.......where did I put that gold chart......... ( ? )
away...to the charts! .....they NEVER lie....eventually ;- )
EB
Gold makes new lows..............hmmmmmmm. D.A. - like takin candy from a baby.......oh, what's that? We had no bet?? Bummer....... ( for me ) ...
Been doin alot-o back readin ( puta is in trouble again and postin from trabajo ) ) and something struck me that I had to repost. It is from our local Broke-Dude-RJ ;- ) He has been stating that gold will hold it's lows or there will be some big producer buying at below 280 or some short covering rally............. ( which EB will sell into ) ..................and stuff. And then he posted two sentences that I ad to re-read.....twice. Here she is......'tis ONLY from two days ago.
-----------------------------------
Date: Tue Aug 25 1998 21:38
RJ ( ..... You mean TA not T&A....yes? ..... ) ID#411259:
Copyright 1998 RJ/Kitco Inc. All rights reserved
Beware the Russians. They dont really have enough gold to send the market in a
tailspin should they decide to sell some quick, but the news will be good for a $5 drop.
OK
--------------------
this was right after he said:
A bit-o-both. There is a major 18 year bottom in place. So much for the TA.
It will be simple support. CBs are becoming buyers of gold. Remember when I tried to
explain that the CBs are traders too? Seems they are now at liberty to buy gold at 280,
that they sold for 330, 350, etc. Perhaps those whose railed against the Central Banks
for their cursed gold sales can now catch a glimmer of how and why these sales
happen. The Bankers are laughing all the way to the...... well..... nowhere actually, they
ARE the bank..... no where to whistle to, except maybe the water fountain.
Also even therefore indeedy, gold producers are buying back their forward sales -
again at tidy profits. These two factors, working in concert should keep gold above the
lows. There will be more leasing and sales as the year winds down, but it will be bound
in a tight range and I think 278 will hold.
---------------------------------
Well, RJ ole buddy.......ya done good. AGULP to ya! Even though I told ya the bottom wouldn't hold ...... ( big grin thingy ) . Ya' all would do well to read some of his stuff and take heed once in a while...........ohmy?
Now.......where did I put that gold chart......... ( ? )
away...to the charts! .....they NEVER lie....eventually ;- )
EB
Sell the rally. Gold is a turd in 98. If it smells like it, tastes like it, and keeps getting flushed...............well, it must be a turd. Uh Huh.....no offense buggers just reality.
back to lurky-jerky
away...to go home and sip something chilly
EBgoldbearlookingtogetfingersburntwhilstsellinghterallies
Sell the rally. Gold is a turd in 98. If it smells like it, tastes like it, and keeps getting flushed...............well, it must be a turd. Uh Huh.....no offense buggers just reality.
back to lurky-jerky
away...to go home and sip something chilly
EBgoldbearlookingtogetfingersburntwhilstsellinghterallies
Quite the contary my good buddy. 'Twas ALL compliment.... ( ceptin' for that gold bottom ) . You are STILL...... daman! Have we locked in price on the kooookooooobaras? ( smile )
I imagine you even have a seat reserved on Cherokasi's Smoke Mobile.....should you decide you want a ride..... ( more big grins ) ...seeing forward looking backward to gain momentum into the quantum.....flux and chaos.....uhuh. You can even be holder of flame for a while................but don't Bogart.
now........Tom, I is light tonight.........should you lighten as well ;- )
and now I is gone......
AWAY$$$.....to find cheeze&bloopers for my cocktail crackers
EB
Quite the contary my good buddy. 'Twas ALL compliment.... ( ceptin' for that gold bottom ) . You are STILL...... daman! Have we locked in price on the kooookooooobaras? ( smile )
I imagine you even have a seat reserved on Cherokasi's Smoke Mobile.....should you decide you want a ride..... ( more big grins ) ...seeing forward looking backward to gain momentum into the quantum.....flux and chaos.....uhuh. You can even be holder of flame for a while................but don't Bogart.
now........Tom, I is light tonight.........should you lighten as well ;- )
and now I is gone......
AWAY$$$.....to find cheeze&bloopers for my cocktail crackers
EB
( that was reference to hindsight and watching football ( US ) on a Sunday ) .............uh huh.
away......to keep my hind in sight......... ( and my johnson ) ...
EB
( that was reference to hindsight and watching football ( US ) on a Sunday ) .............uh huh.
away......to keep my hind in sight......... ( and my johnson ) ...
EB
AG ( and RR ) are now all we have keeping us from fiat currency oblivion. Whatever you may think of them, they know what they are doing. And we are lucky indeed we have that, given what is happening to the rest of our government -- in particular our executive.
AG ( and RR ) are now all we have keeping us from fiat currency oblivion. Whatever you may think of them, they know what they are doing. And we are lucky indeed we have that, given what is happening to the rest of our government -- in particular our executive.
Once the financial crises around the world fade a bit, there will be less frightened dollar buying.
By the way, do you have any clear conceptual way to separate US dollar buying due to fears of currency devaluation, from US dollar reserve selling to prop up the currency in question? I find this confusing, since I find it hard to decide which is the dominant factor in the relevant financially troubled market.
Of course, once everyone decides that some other currency is more attractive than the US dollar, then all of this will be a moot point, because all activity will be to sell dollars.
Once the financial crises around the world fade a bit, there will be less frightened dollar buying.
By the way, do you have any clear conceptual way to separate US dollar buying due to fears of currency devaluation, from US dollar reserve selling to prop up the currency in question? I find this confusing, since I find it hard to decide which is the dominant factor in the relevant financially troubled market.
Of course, once everyone decides that some other currency is more attractive than the US dollar, then all of this will be a moot point, because all activity will be to sell dollars.
become very cheap financially: At today's prices you can buy some gold stocks, good properties, with production costs of $220-$230 an ounce and
reserves in the ground valued at $30.
So when you add all that up you can buy gold in the ground, plus the producing mines and other properties, for less than the cost of gold. I don't know when the gold story is going to catch on or when people are going to stop hating it. I do know that I would rather own gold than the PC and chip stocks.
become very cheap financially: At today's prices you can buy some gold stocks, good properties, with production costs of $220-$230 an ounce and
reserves in the ground valued at $30.
So when you add all that up you can buy gold in the ground, plus the producing mines and other properties, for less than the cost of gold. I don't know when the gold story is going to catch on or when people are going to stop hating it. I do know that I would rather own gold than the PC and chip stocks.
If you are right, they may regroup, and try to float more credit/debt. Hope not.
If you are right, they may regroup, and try to float more credit/debt. Hope not.
Find out more about Kitco at info@kitco.com, or call 1-800-363-7053.
Copyright © 1996 Kitco Minerals & Metals Inc.
SDRer__A ( ) ID#290172:
Copyright 1998 SDRer__A/Kitco Inc. All rights reserved
A.Goose@Glad.your.back! You've been missed. FOX-MAN has gallantly supplied the data ( for which our THANKS FOX-MAN {:- ) )
Yes Fox-man is helping everyone with his efforts. Looks to me like we are in a full blown world currency crisis. Paper gold is at its lows, the price of actual gold bullion ????
When will actual bullion crush the paper gold market???
Japan Nikkei 225 ^N225 12:09AM 14406.19 -459.84 -3.09%
This is BIG Nikkei at new lows. Will it close like this??? Very bad sign for the U.S. equities and bond markets IMHO.
Kitco is extremely slow tonight ( and it lost one of my messages ... another sign? )