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Politics : Ask Michael Burke

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To: Henry Volquardsen who wrote (68364)9/29/1999 10:00:00 AM
From: Merritt  Read Replies (2) of 132070
 
Henry:

Please feel free to lecture, it's been a long time since I was in study hall.<g>

<<...Kevin Crisp, treasury analyst at bankers JP Morgan, said bullion derivatives -- which include over-the-counter gold loans, forward sales, futures and options -- developed during a decade of abundant liquidity and sliding spot prices.

``This market evolved in a falling price environment. We have not stress-tested how this works with a rising price,' he said.

"There are very few people who have lived through such volatile trading conditions in the gold market. It's hard to get your mind round the changes.

``No one knows how big or complex this market is.'...
>>
biz.yahoo.com

I received an e-mail from one of my brokers this AM saying, due to unusual volatility, only market orders would be accepted for gold futures contracts.
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