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Gold/Mining/Energy : Gold Price Monitor
GDXJ 90.35+0.4%Nov 6 4:00 PM EST

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To: Rarebird who wrote (48052)2/5/2000 8:50:00 AM
From: Enigma  Read Replies (1) of 116753
 
PDG announcement, etc. I noticed yesterday that Bloombergs and CNN Financial had no mention of the rise in the POG until later in the afternoon - after the NY gold market closed I'm sure. It certainly did not seem to be in the minds of stock market players at all - yet it was a massive rise - caused no doubt by many factors. Such a rise in the POG not so long ago would have caused real rumblings in the stock market - because it would have pointed to trouble

I think that commentators seized on the PDG announcement even though as Bob Johnson has pointed out it means mainly a moratorium on new hedging. The last thing that people want to look at in these rosy times is the possibility of financial instability.
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