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Gold/Mining/Energy : Gold Price Monitor
GDXJ 117.61+3.0%Dec 19 4:00 PM EST
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To: pater tenebrarum who wrote (56114)7/12/2000 2:10:43 PM
From: Crimson Ghost  Read Replies (1) of 116816
 
Heinz:

Here is the bearish view on the auction from the BANK CREDIT ANALYST.

In a June 30th Insight, we noted that
gold had been unable to take
advantage of good news. Now a
string of bad news has helped to
erode prices: the dollar has stabilized,
Austrian and Swiss central banks
have announced gold sales, and
today's Bank of England (BOE)
auction was very disappointing. The
interest in BOE gold sales, 25 tons
every two months, has been steadily
declining. The January auction had
bids for 100 tons, the March auction
for 75 tons, the May auction for 66
tons and today's auction for only 33
tons. A drop below the $270 low
reached in late-May would be
ominous. Investors should continue to
avoid gold and related shares

Note they ignore the better action of the gold shares.
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