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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Richard Mazzarella who wrote (41)3/20/1998 11:19:00 AM
From: Larry S.  Read Replies (1) of 972
 
Richard,

Thank you for posting your reading of "The Forecaster". It will be interesting to see what Auger says this weekend. I suspect he will say we are on our way to an XAU of 90 or better.

With respect to the sale of gold by the Belgium CB, wasn't it reported initially that they were not renewing leases (for a similar amount)? If so, the impact on supply of their sale would seem to me to be neutral. And, since they sold to banks directly, one could argue that they actually reduced the supply (or increased demand) in the general market by an amount of 299 tones.

All the press seems to focus on is the sale by a CB.

Larry Smith
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