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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.04

+0.7%

4:00 PM EST

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To: Hawkmoon who wrote (26774)	1/22/1999 1:48:00 PM
From: Enigma	Read Replies (1) of 116858

Ron<<Thus, my argument that the CB's will sell their gold to keep the gold market down until their ready to let it go up>> But this is a myth surely? It's been pointed out I don't know how many times that some CB's sell gold and others buy - a recent posting pointed out that a majority of European CB's gold reserves have actually increased over the last 18 months or so. The myth of CB selling persists because only the sales are reported by the media and research types. I'm personally a little sceptical about the rumoured vast short positions of certain institutions - because I think that in the marketplace there will always be those who will try to profit from such an inbalance - or else a powerful entity might enter the spot market - just as Buffett did with silver, or else you might see a concerted effort by a group of producers to unwind their hedge positions. None of this is happening. I concede that the gold leasing situation has had a powerful effect. the simple explanation is surely that the market for gold is more or less in balance now? dd

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