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Gold/Mining/Energy : KITCO - Gold discussion

GLD 457.82

+1.3%

Jan 23 4:00 PM EST

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To: Robert Dirks who wrote (126)	9/24/1998 5:59:00 PM
From: sea_urchin	Read Replies (1) of 989

Robert : Over at Bill Murphy's thread someone posted that Long Term Capital is short of 350 tonnes of gold. I heard from a friend in SAf that they sold that gold simply to get some cash to cover their other debts which apparently were sustained through derivative deals on the general market. Now they have to buy that gold. If such an "important" fund has taken such a big bath one wonders who is next? And, after that? The US market and the $US are becoming more and more vulnerable. With low US interest rates, and getting lower, gold is looking more and more attractive as the only game left in town.

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