Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Little Joe who wrote (38553)	8/7/1999 2:20:00 PM
From: Crimson Ghost	Read Replies (1) of 116768

rarebird Your analysis is often on target, but you overreach yourself by trying explain daily movements in XAU. If the fear of tighter Fed policy was the reason XAU dropped Friday, why did gold bullion rise? My take is that the XAU had gotten too far ahead of bullion and some reteenchment was in order. The gold complex has indeed suffered in the past when the Fed tightened. But gold prices were much higher in those days and the short position much smaller. The current gold price seems to have discounted almost every piece of bad news you can possibly imagine. The key factor influencing gold these days remains CB lease rates and these have risen sharply of late -- a very bullish signal. Could indicate that the CBs are moving to reign in the gold carry trade. The fact that gold almost never responds to good news shows how controlled and manipulated the market is. When gold finally begins its long awaited bull move, it will probably be for no apparent reason. That will not come out until prices are way up. A poster on another thread reports that none other than Larry (king dollar) Kudow said there is nothing wrong with higher gold prices in an expanding economy. If people like Kudow -- long an advocate of trashing POG -- think it has fallen far enough -- the shorts are in deep doo doo or will be soon.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next