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Gold/Mining/Energy : Alta Gold

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To: Bruce McGaughey who wrote (461)	2/4/1998 6:50:00 AM
From: Francois H. Gaston	Read Replies (1) of 749

Bruce: I got it from a thread but think you for the link. Silver is used industrially ("they say") and because silver consumption/demand outpaced output this "explains" why some have loaded up on silver and are cornering the market. From my reading, gold demand outpace output, especially in 1997. The deficit was filled in by significant selling from central bankx and others. I think the Warren Buffet move is HUGE news to metal and other investors and that gold will be next (just a total guess here) as gold is at a very low price at this time. But Gold is a completely political metal and huge forces will try to keep it down. I think Cheryl Strauss Einhorn is one of them (Barron's 2 weeks ago) and now we have Donald H. Gold (Investor's Business Daily today in Futures section) who talks about silver.... mainly about silver stocks at COMEX but is silent about Warren Buffet's move... booooo! and then goes on to say that gold sank $7.80 on bad news that South Korean are selling 161 metric tons of gold these days. "that is about $1.5 billion" he says and then goes on to say that europe sentral banks could sell again (Euro money)... and then says that David Rinehimer (director of futurees reseach at Salomon Smith Barney) says that last rally was mainly fuled by shorts covering. And then say that they are "two bits of bad news... short-covering buys are about done and few want to establish new long position". It looks to me as complete biased opinion (like Einhorn saying that Friedman said...) and possibly manipulation for those funds (such as smith barney) to load up at cheap gold prices. Just a guess by I am flabagasted. I am going to go from 70% to 80% gold funds this week for my retirement. I will play contrarian. I hope that I am right. I still cannot believe that Eihnorn and Gold are reporting gold's prospect that way. A sell of 161 tons of gold by South Koreans: big deal. $1.5 billion $ is peanuts. In Europe, French and German bank are NOT selling gold. Their population has been trained to hoard gold since early 1900. I again think that the XAU has double bottomed for good and that systems are all go for a gold move "a la silver" this year. Hey! Just a guess. Don't invest after reading my opinion. Follow instead Einhorn and Gold: they ARE "the experts" as they reported from other experts"" Friedman and Rinehimer. I wish we could establish the same "Clinton independent council" aimed at Friedman and Rinehimer to see whether they are telling the truth at this time or whether they are lying to us. Remember Vinick from Fidelity and a semiconductor stock he praised on a show,.. while he immediatley sold a huge part of his position?! Crazy world. Fascinating. All what I can say: buy on the low, when the sentiment is at its worse because this is the time nobody really think that gold will go up. These reporters are spreading opium on the masses. (IMHO again). Gaston

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