Robert and Yogi,
Gleaned from Kitco this morning, something to talk about besides the usual chit chat there:
(DA is pretty reliable):
D.A. (gold) ID#7579:
Our good friends over at Goldman have been in the market buying calls on the heavy yellow metal, with strikes in the 310 320 range for April and June.
Quantity estimated at about 1 million oz.
Just an idle speculation, but what if the Greenman raises rates the expected 25 basis points but leaves the bias statement in neutral territory? This would
probably cause the stock market to rocket, but it would also probably hurt the dollar and send the price of gold higher, perhaps much higher.
(Unknown reliability but seems to be a quote):
Date: Wed Feb 02 2000 09:39
LIBERTY ("WASHINGTON AGREEMENT" announcement #2 PENDING?) ID#263379:
Copyright © 1999 LIBERTY/Kitco Inc. All rights reserved
"Around 747 metric tonnes of gold could be transferred to the European
Central Bank from member central banks if European union governments
approve the ECB's plan to double its reserves, said John Reade, analyst
at Warburg Dillon Read."…
"The European Parliament recently approved the ECB's request to double
its reserves to ERU100 billion but the plan has yet to receive the green
light from E.U. governments."
"If approved, the proposal would support gold prices as it would remove
the threat of significant official sales over the long term, WDR's Reade
said."
Later in the day, the story continued: "So far, the gold market appears
to have ignored the possibility that the ECB may announce a doubling of
its gold reserves.
That may change as the approval process moves along,” said Reade. End.
Date: Wed Feb 02 2000 08:40
Tyrant (ECB - To Double Its Reserves) ID#38197:
Copyright © 1999 Tyrant/Kitco Inc. All rights reserved
Palladium 506 +13.45 +2.73 %
Platinum 463.5 +10.6 +2.34 %
Gold 288.7 +3.3 +1.16 %
Silver 528.5 +3.2 +0.61 %
Looks like there must be some truth to the following story:
Yesterday, Dow Jones London reported:
"Around 747 metric tonnes of gold could be transferred to the European Central Bank from member central banks if European union governments
approve the ECB's plan to double its reserves, said John Reade, analyst at Warburg Dillon Read."…
"The European Parliament recently approved the ECB's request to double its reserves to ERU100 billion but the plan has yet to receive the green light
from E.U. governments."
"If approved, the proposal would support gold prices as it would remove the threat of significant official sales over the long term, WDR's Reade said."
Later in the day, the story continued: "So far, the gold market appears to have ignored the possibility that the ECB may announce a doubling of its gold
reserves. That may change as the approval process moves along,” said Reade. End.
This story was buried and covered by few of the wire services. A Café member spoke to several gold fund portfolio managers who had no clue about
this at all.
FWIW,
Roebear |
