<<There had to be a point in the "Gold Wars" when the Gold Warriors would come out from behind the smokescreen of Gold leasing, forward sales, etc. etc. The had to be a point where they would have to start selling the actual metal in the open again, in order to force the price lower. There had to be such a point, and there was one, and it was announced to the world by the Bank of England on May 7, 1999.
In the lead up to the Auctions themselves, it is quite possible that $US Gold will go even lower. But once the Auctions start, the incentive to push the price down will vanish. Once the Gold Warriors show their hand, there's only one way for the price to go. Examine in this context the period after the "London Gold Pool" folded in 1968, and after the IMF/Treasury Auctions wound up at the beginning of 1979.
It has taken a veritable avalanche of short selling to get Gold down to just below where it was last August. From this point on, the lower it goes, the bigger a bargain it is. That's PHYSICAL Gold. No one in his or her right mind would look at Gold stocks until there is some kind of support found on the Gold price itself. So far, that is not the case. The six weeks leading up to the start of the Auctions should be most interesting.>>
the-privateer.com
I must be out of my mind since I have been buying gold stocks rather than physical gold.
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