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--- Begin Message ----Caveat Lector- ------------------------ Yahoo! Groups Sponsor ---------------------~--> <FONT COLOR="#000099">Buy Ink Cartridges or Refill Kits for Your HP, Epson, Canon or Lexmark Printer at Myinks.com. Free s/h on orders $50 or more to the US & Canada. </FONT><A HREF="http://www.c1tracking.com/l.asp?cid=5511";><B>Click Here!</B></A><FONT COLOR="#000099"> </FONT><A HREF="http://us.click.yahoo.com/l.m7sD/LIdGAA/qnsNAA/WfTolB/TM";><B>Click Here!</B></A> ---------------------------------------------------------------------~->Iraqi Quagmire Could Push Gold Over $400/Oz In Near-Term By Jim Hawe Dow Jones Newswires http://sg.biz.yahoo.com/030909/15/3e138.html Tuesday, September 9, 2003 TOKYO (Dow Jones) -- Concerned that the mounting costs to rebuild Iraq will shackle the U.S economy for years to come, more investors are now hedging their portfolios with a touch of gold -- a trend that could push this traditional safe-haven asset over $400 an ounce before long, industry insiders said. John H. Mesrobian, president of Virginia-based Constantinople Advisors, sees a few different price movement scenarios developing on the gold market. "A close above $380 will point to a quick move to $400-plus. Or gold will consolidate first before moving higher. In both cases $400 is going to be breached -- and soon," he said. Spot gold was quoted at $377.50 a troy ounce Tuesday in Asia, up from $375.25/oz late Monday in New York. Mesrobian, whose firm advises investors on currencies, bonds, and commodities, said gold is being driven by improving fundamentals and moves on the currency markets, particularly the slumping U.S. dollar. "The dollar is toast," he said, predicting a further slide in 2004. Michael Kosares, the president of Denver-based bullion brokerage Centennial Precious Metals, has seen investors hedging their portfolios against potential losses in stocks and bonds, as well as against a further deterioration in the U.S. economy. "Gold investor concerns these days are more centered around some of the negative fallout from the war on terrorism such as rising deficits, bond market problems and deteriorating relations with key trading partners," said Kosares. Kosares agrees that gold stands to benefit from a further slide in the value of the greenback, especially if the dollar printing presses keep rolling to finance the war on terror, which now carries a $87 billion price tag. Kosares said most portfolio planners are adopting long-term strategies that account for any fallout from the efforts to rebuild Iraq, as well as the possibility of further terrorist acts at any time. So is there anything else investors should be adding to their portfolios other than gold? Mesrobian believes the euro, Swiss Franc, and Canadian dollar are all headed higher, and says copper deserves a second look. He also said shares in many junior mining companies offer nice profit potential. Conversely, he warns against too much exposure to the U.S. dollar and stock markets. "The bottom line is that the U.S. dollar and markets will see bottoms in 2004 and it is going to be very nasty," he said. -END- Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/ www.ctrl.org DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://www.mail-archive.com/[EMAIL PROTECTED]/ <A HREF="http://www.mail-archive.com/[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
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