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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 234.93

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11:24 AM EST

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To: Victor Lazlo who wrote (131891)	9/26/2001 1:16:55 AM
From: GST	Read Replies (1) of 164684

I know that gold does not 'respond' to anything other than supply and demand -- the question remains, which side of the equation is the most likely source of price movements -- in my view it is not likely to come from changes in demand. Everything you wrote seems to assume that demand is the issue -- I beg to differ. Gold is a very highly leveraged commodity with some very peculiar properties. It lends itself to short-selling on a long-term basis. You would be hard pressed to find anything in any market where "apparent supply" is so much at odds with "real supply". Central bank selling has, so far helped to relieve pressure at times when the spread between real and apparent supply was growing too wide. This has protected the short-sellers. The price of gold will not move until the shorts cover -- I cannot think of anything remotely similar -- and it will come from a supply eent, not a demand event IMO. Having said all that, gold speculation for me has been about as much fun as adult circumcision (an experience that I have not personally 'enjoyed') LOL

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