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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (85622)2/20/2001 2:25:55 PM
From: John Pitera  Read Replies (1) of 86076
 
I do remeber the yen carry trade.

a bit of gold talk

--------COMMENT: The Interfax news agency reported that a Russian Ministry of
Finance source had said that the signing of Russian export quotas would be
delayed indefinitely. This report could not be immediately confirmed. The
Ministry of Finance source indicated that the export quotas were being
delayed because of changes being made to them. Pgm's have so far shown
little impact from this report. Gold and silver were quiet. On Friday, gold
made a new low in early trading on producer and fund selling. A much
stronger than expected rise in the Producer Price Index for January and a
move back to the plus column for gold prices prompted short covering. PPI
rose 1.1%, the largest increase since September 1990 and versus expectations
of a 0.3% increase. Traders are also aware of the large ongoing speculative
short position in gold and are wary of some sort of a repeat of the sharp of
September 1999. A weaker U.S. dollar versus the euro and Australian dollar
were also supportive of gold's rise. Silver also made a new low Friday but
stayed in the minus column despite the reversal in gold prices. Pgm's closed
mixed in quiet pre-holiday weekend trading. Yesterday, gold made a new 17
month lows as the euro and the Australian dollar came under pressure versus
the U.S. dollar. This inspired some producer selling later in the session.
Some technically inspired fund selling occurred as recent lows were broken. ---------
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