Finincial sceams of big finiancial houses starting to unwind (derivatives). Plus huge demand world wide. My mining shares up about 10% yesterday, Buy DROOY, HMGCY, or franco-nevada (Canada)-safest. Mining shares went up 150 times in the gold run up of 1979-80. This presumes we have a market after 2000. But if we don't it probably won't matter anyway.

-- Goldbug (Goldbug@Mint.com), September 22, 1999

Answers

Hmm.

-- Spidey (in@jam.arcadia), September 22, 1999.

What is/are DROOY, HMGCY?

-- Sam ($$$$@$$$.$$$), September 22, 1999.

And Dow opens down 35 points in first 15 minutes of trading:

http://dynamic.nasdaq-amex.com/dynamic/majorindices_java.stm

-- Bill P (porterwn@one.net), September 22, 1999.

Gosh, where is Andy? Somehow I picture him on a big boat loaded with gold that he purchased from auction at the Bank of England, slowly making its way ....

-- Jack (jsprat@eld.net), September 22, 1999.

Goldbug,

You are not the financial wizzard that you think. The actual price of gold did not go up, the value of the US dollar went down. Check it agains the Yen and Euro. Gold is solid and unfortunately still in the pits. Last year it was $290 per ounce and the US had the best economy and currency in the world. If you keep your finances with your current system, you should be sitting on goldstock with the value decreasing much further. There is still more selling to be done by the EU. Inflation is also going no where and with gold as a hedge against inflation, your value will go just about that far. I predict that you are going to see the value of your holdings drop(more like led than gold).

-- ned p zimmer (ned@nednet.com), September 22, 1999.

Thanks Jack, LOL!

I'm not too sure Ned, what you say makes sense but I'm going with my gut - that entails buying physical gold as a means of wealth preservation, and also maintaining a small base of DROOY, TVX etc. If these shares run up all well and good but at this point in time I plan on cashing out on rollover whatever happens - I don't trust the markets to survive without major problems and would rather have the cash so that I can further diversify. It's all a bit of a crap shoot... so far so good...

-- Andy (2000EOD@prodigy.net), September 22, 1999.

Oh and Ned, I believe we are facing a hyperinflation scenario come 2000. Gold will be the ultimate protector and as inflation hits with a vengeance gold will keep parity and indeed streak ahead.

-- Andy (2000EOD@prodigy.net), September 22, 1999.

Andy ---- Do you know the URL for a daily Gold Report authored by a Kaplan, [ I think it is by Kaplan, he also gives a market summery every day and is very bullish on Gold ] Thanks

-- thinkIcan (thinkIcan@make.it), September 22, 1999.

Here it is

http://www.goldminingoutlook.com/

-- Andy (2000EOD@prodigy.net), September 22, 1999.

Andy,

As a hedge against inflation you will be absolutly correct. Inflation is currently at a historic low(20 year low). It will only go up. The wild card will be the liquidation by the EC countries to pay down debt and the use by the IMF to help out third world countries, also to pay off debt. Another wild card will be the BOJ(Bank of Japan). Their economy is finally comming out of a 9 year resession and their currency is getting stronger(hence the price for their goods will be going up). Will they take action to save their economy? They might have to.

Good luck

-- ned p zimmer (ned@nednet.com), September 23, 1999.