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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: russwinter who wrote (48171)2/6/2000 12:17:00 AM
From: Gord Bolton  Read Replies (2) of 116764
 
Top ten reasons for the POG rising

1. Gold producers could not agree to limit production, forward sales or prices unless/or until they could eat Ashati alive, and the bullion banks too, at the same feast.

2. Goldman Sachs still does not know what to do with Ashanti and their hedge. They are starting to sweat big time. They are in a no win situation.

3. Billy went looooong with the social security money and will be looking for support from the goldbugs for a third term.

4. Hi I'm Barrick and I'm a hedgeaholic. But I saw the numbers on the Ashanti shareholders suite against the directors and I will never short gold again.

5. The Duma told Boris that he had to return all of the stolen gold to the Russian treasury or they would make him work it off.

6. Supply and demand in the Gold Market are searching for equilibrium.

7. The markets are at all time highs and there is nothing to hold them up. Savy investors all decided to seld their shares and go long gold the same day.

8. Somebody audited the books and there was actually no gold there.

9. Some Cubans actually had a claim on all the gold sold by the BOE. That is why they were selling it.

10. Gold had to go up as all of the producers had already shorted more than they had. There was nothing left to sell.
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