Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.74

-1.2%

Dec 31 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ken Benes who wrote (20732)	10/5/1998 8:11:00 PM
From: Jim McMannis	Read Replies (1) of 116836

Ken, The bond and gold markets are clearly being manipulated. I agree that the recent, explosive up move in the bond is short covering related. Funny however that the hedge fund in question was both short the bond and gold and only the bond positions may have been covered. This was viewed as THE prudent thing to do...to ease the panic the most as lower rates and adding liquidity would help stabilize the world markets much more than throwing the price of gold through the roof by covering those short positions. SO the bonds were covered and the interest was just paid on the gold loans....only to wait to unwind them slower and a more opportune time... So what you say has a ring of truth to it... Jim

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next