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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Crimson Ghost who wrote (113460)7/19/2001 1:39:53 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
i'm not sure...it's not a transparent market, so one can't really say what it means. there's both a bearish and a bullish interpretation possible...the bearish one would be that CBs are offering a lot of gold to the lending market, the bullish one is that there's simply no demand for gold loans, and therefore no forward selling by producers and/or selling by carry trade participants. but as i mentioned before, lease rate spikes commonly occur only near the major turning points - and as such i regard the spike of Sept. '99 as the turning point spike that market THE low.
in trending markets the lease rates usually don't do anything. of course, we're not in a trending market yet.
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