Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: cliffp who wrote (6386)	1/11/2002 8:18:58 PM
From: Square_Dealings	Read Replies (1) of 36161

<I wonder if the price may be hindered early next week by the Bank of England auction on Wednesday?> I hope so. I am long gold bullion but I want to pick up some more futures if they get the price down. It will be interesting because I think theres a lot of people hoping for a pull back so they can buy. The Bank of England auction really is insignificant in the big picture. I calculated that in order to cover the gold liabilities of the U.S. government, JPM and the other banks combined, it would take around 430 Bank of England auctions worth (at 20 tons each). I think after next weeks auction there is only one more scheduled and then the BOE is done. -g- M.

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