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 94.04

+0.6%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Richnorth who wrote (43161)	10/17/1999 2:07:00 PM
From: Hawkmoon	Read Replies (2) of 116764

At the moment, existing evidence point to the gold bugs being right as having been victimized by the big hedge funds and the bullion banks, perhaps with the help of covert complicity of the Feds. Victimized??!!! Hell, the gold mining companies appear to have actually participated by BORROWING/LEASING gold from the CBs and selling it short, as it became apparent that there was excess production of gold to meet demand several years ago. And now they are paying the price (again to the CBs to whom they owe that gold) for their actions and will likely have to pay up in cash, thus weakening their earnings potential until their hedged positions are paid off. And you know something? None of the CBs have categorically stated that they wouldn't sell gold between themselves. So thus, an Asian or other CB could theoretically buy gold from the Europeans and then sell it through a surrogate operation. The CBs are in control of the gold market. I know it. You know it. And Bill Murphy knows it. And what they give they can very easily take away through a variety of maneuvers. And an additional comment on the efficacy of a POG of $400/ounce. The last time that gold was priced at $400/oz (other than a short spike in Jan, 1996) was back in 1990 when the CPI was running at 5-6%. briefing.com kitco.com Considering we're barely at 2.5% annual inflation AND THE FACT that a US economic slowdown will hurt commodity prices. Now take a look at the spike up in the POG back in '93 and compare the gains in the DOW to the gains in the POG since that period. Note how little gold increased in value subsequent to that spike up over the following two years. Why should we expect anything different now? Regards, Ron

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next