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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: lorne who wrote (65633)	3/14/2001 9:32:43 AM
From: Machaon	Read Replies (1) of 116770

<< The central bank said a total of 1.8 million ounces of gold was bid for, with 804,800 ounces allotted to bidders at the lowest accepted price. >> The auction was only oversubscribed at 2.25, but the 1 month lease rates are up over 34% to 7.2713%. Most longer term lease rates are lower today, but, with the one month jumping, this might indicate a short term shortage in the metal, IMHO. If there is a shortage, why would the BOE auction only be oversubscribed at 2.25? Unless, of course, there was some kind of action by the BOE to limit subscribers!? Is that possible?

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