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basserdan

06/30/04 12:55 PM

#263747 RE: PENNYPRINCE 1 #263733

*** John Embry's Advice to gold investors ***

Dan thanks for the heads up. Still holding golds and silvers. Sure looks like they want higher.
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Hi James,
Well they might look that way to you, but as we know, "looks can be deceiving."

My unsolicited but well intended advice would be to cool your jets for a while and see what happens in the next couple of days. Depending on the outcome, today's FOMC action/inaction could conceivably set off another wave of carry trade offsets that would, in all probability, re-ignite the USD rally and we both know what that does to gold share values.

Please take the time to read gold superstar John Embry's latest bit of good advice. <g>


Advice to gold investors: don't get over-leveraged

Be careful about using leverage in the gold market. Volatility could lead to margin calls that could force you out of the market prematurely.


John Embry
Sprott Asset Management
July 2, 2004

http://www.sprottassetmanagement.com/pdf/investorsdigestjul0204.pdf