At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Eakole who wrote (918)	11/16/1997 12:40:00 PM
From: Sean Beingessner	Read Replies (2) of 1911

In Saturday's Financial Post, a Canadian Newspaper, pg 46, there is an article, "Suffering through golden daze". In the article there is a graph showing the spot gold price and the lease rates. It covers a few years. There are three upward spikes in the lease rate. The first spike was "about 60 days before the last run-up in the gold price in February 1996". The second smaller spike around December of 96, the last not so long ago. I assume that an increase in the lease rate can cause those, who have leased and sold or consumed gold to cover the position. So depending on the average duration of a lease contract, there is a delay between the rates going up and the covering. I would like to learn more about this. Does anyone know where on the net you can find the lease rates for gold? How and by who are these rates set? Finally, what is the average duration of a gold lease? Sean

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