latest gold price us$344.10, page-5

Hello Diff,

Don't mean to be a wiseguy, but could it not be because:

1. The US economy is stuffed.

*Current account deficit increasing by more than $1 billion every day.

*Rate of personal and business bankruptcies rising.

*Debt levels in the US (both personal and commercial) are at an all time high.

*US unemployment levels rising.

*Fed keeps printing more and more paper money (trillions so far).

and

2. The US$ which, since the Bretton Woods Agreement, has been the world's reserve currency, is tanking.

and

3. The US is the biggest debtor nation on earth ( .. by the way, it used to be the biggest creditor nation), and more thane 43% of Treasury bonds (which are government IOUs) are owned by foreigners.

and

4. Other currencies are going to get some actual/real backing behind them by way of gold - the Euro with 15%, but more importantly the Gold Dinar (Malaysia) by June 2003 and another by 6 major arab countries (including Saudi Arabia, UAR, Kuwait, Qatar and Yemen) by 2005 - so the US$ is losing it's attraction for foreigners.

and

5. The energy needs the US has (75% reliant on imports) given OPEC, Saudi's and Venezualla ...however it's spelt!

and.

6. Bush's war on Iraq - IMO odds on within 8 weeks.

plus

7. The suggested accumulation of physical gold by Asian and Islamic interests over the last several years while the central banks (like the BOE with their farsical auctions!) sold off their reserves ... at a time when the POG was at an obvious and sad (and manipulated) low.

IMHO - that's why gold is going up.

bye. dub
..... phew! ...