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Strategies & Market Trends : the times they are a-changin'
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To: marcos who wrote (137)12/22/2002 3:16:28 PM
From: teevee  Read Replies (1) of 145
 
Hey....haven't visited here for some time now!!...nice chart...I sold most of my golds...why? because I view gold as just another commodity, except when the central banks have to restore confidence in fiat money and dump bullion into the market. The renewed interest tells me that gold stocks will be more liquid which is good for trading. Other than the senior golds, I wouldn't want to get caught holding any of the juniors. As you and I both know, they can lanquish for years.....THE most significant event that will cause hedgers big worries is the fact that Chinese will soon be able to own, buy and sell gold and the economic activity in China will provide the discretionary funds to do so. Given Chinese social customs, they will be buying lots and lots of gold....probably enough to allow the central banks to liquidate in an orderly fashion, the equivilent of 50 years world wide annual production out of the market and allow gold prices to move up and down with demand. The commercial banks are huge players in the gold markets too. They will be increasingly active as many of them have lots of gold bars lanquishing in their vaults. They just Loooove to play covered options and futures strategies, thereby earning a return on all that gold just sitting around in their basements.
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