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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: Ironyman who wrote (95825)	9/4/2003 8:25:22 AM
From: Real Man	Read Replies (1) of 116753

From another forum: Rumors are flying about a purported Multi-Billion dollar buying group that is after Gold. The rumor is they positioned themselves in futures, a la the Hunt brothers in Silver, but left the majority of their $4.6 Billion in cash to go after physical Gold and help them make gobs of money on the futures. The rumor is that this group is sweeping up coins, bullion, COMEX, and everything they can. I didn't believe it possible until I saw the following..... World Bank sees gold price falling, nickel strong reuters.com ""Over the medium-term prices are expected to fall below $300 an ounce as supplies from all sources exceed demand," the World Bank said in a Global Economic Prospects report." - As Herr Keiser used to say - 'Nothing is official until it is officially denied'. The world bank trotting this pronouncement out at this time is enough of a 'denial' for me to get suspicious and watch very carefully. This is huge if confirmed. It explains a lot about recent gold strength in the face of all time divergences between spec longs ('Dumb' money) and commercial shorts ('Smart' money). I would also note what I largely missed earlier in the day and that is that Eliot Spitzer has told the Feds to get stuffed and is now launching new indictments in spite of Congressional attempts to take away his power. In a Boston press conference Mass. Attorney General just announced Mass is joining Spitzers probe and like N.Y. will seek compensation for investors. The announcement was made an hour after the close the same article indicated 3 other states are likely to join as well. - People may start getting worried about money in anything but the safest of investments.... As Richard Russell likes to say: "There is NO fever like Gold Fever." Travis We only see what we have learned to look for <unknown>

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