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 87.56

-4.9%

Nov 4 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Alex who wrote (39118)	8/16/1999 4:41:00 PM
From: Ken Benes	Read Replies (2) of 116752

Clearly this metals review indicates that the cb's have no intention of capitulating to their goal of keeping a cap on the price of gold. Without a doubt, the cb's are poised to use everything within their means to stop gold from climbing. This release talks merely of the possibility of other cb's being forced to sell part of their gold reserves as a consequence to the BOE's sale of gold. It takes very little for gold to retrace, while last weeks news that the Asian countries had become heavy buyers did little more that get gold up to the 260.00. A dead cat could accomplish the same feat. The conviction that gold has bottomed is so weak, that a mere inference of a sale of gold will pull the rug out from under a rally. Factor this in with the puppets in some of the producing countries, it is difficult to say the bearishness in the gold market has been overcome. A confirmation required for gold to move may have to come from a crack in world equitity markets, and that is not evident. Ken

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next