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Gold/Mining/Energy : Gold Price Monitor

GDXJ 119.96

+2.0%

4:00 PM EST

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To: Enigma who wrote (25571)	1/7/1999 10:09:00 AM
From: Zardoz	Read Replies (3) of 116818

Hutch>>"Comment: The bank cut by 0.25%, and so you'll see a technical rally on short covering in the futures. Had they cut by 0.50% gold probably wouldn't move" Enigma>>Please comment on reference to gold? E Well I guess only I could comment on how London, part of England, where the largest trading in Gold is effected by currency fluctuation, and thus the POG. Had the UK lowered rates by 0.50% or more, then the coinage would suffer. And thus the POG relative to UK would climb. {But not relative to the USA Dollar?} So the gold from LBMA would get sold for less coinage relative to the USD. And excess supply from UK would be sold in USA at a lower cost to yesterdays close. But since it was 0.25%, you have many futures traders covering their butts. For those whom think I don't know how to trade: PS: I bought "ABX" this morning, so as far as I'm concerend, Seeing ABX going over $32.80 {before Jan 15} and I'll make a profit. If it stays lower, I DON'T loose. SO GO GOLD GO. I can't loose. Addition: Sorry... if it doesn't clear $32.80 I loose $330

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