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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.68

-0.3%

Dec 5 4:00 PM EST

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To: long-gone who wrote (31341)	4/8/1999 8:04:00 AM
From: John Hunt	Read Replies (1) of 116798

Weekly Gold Market Update (Gold Leasing) << Increasing attention is being focused on gold leasing mainly because of rising concern about the credit quality of the growing numbers of borrowers in the market. At a recent Gold Institute Conference, Terry Smeeten, former manager of the Bank of England's Foreign Exchange Division called for an end to Central Bank leasing secrecy and suggested that the Bank for International Settlements act as central registrar to disseminate leasing activity information. Leasing has created a short position of up to 8% of the world's gold supplies, most of which rarely trades. Short squeezes occur when weak borrowers are unable to maintain their positions. Many, though not all bull markets begin with short covering rallies, and the rallies can be explosive. Last October when the yen carry trade collapsed the yen rose 17% in 10 days, even though the Bank of Japan has demonstrated all to often that yen can be created far faster than gold. >> gold-eagle.com Yeah, let's put the fox in charge of the henhouse.

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