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To: IceShark who wrote (22977)	3/3/1999 10:47:00 AM
From: Lucretius	Read Replies (2) of 86076

rumor: << The word on COMEX and bullion banks floors these days is that GOLDMAN has an order to buy 25 million GOLD oz by a pool of hedge funds. >> << Time will tell but watch the open interest. One thing is for sure : GOLDMAN bought about one million oz of 2 months 300 calls in the last few days and sold agressively 1 year 340 calls. This would imply that they see a surge in POG in the next few weeks with a cap due to producers hedging and small CB selling around 330- 340. >> Assuming the rumor is indeed true. 25,000,000 ounces represents more than a third of the world's annual gold mine production. This would have an electrifying impact upon the gold price - EVEN IF THERE WERE NOT 8,000 TONNES SHORT by greedy bullion banks. There would be panic in the pits to cover these shorts, else we would see 4 to 5 more LTCM hedge fund debacles. Should this crystallize, there is no way the gold price will limit itself to $330 to $340/oz.

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