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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: ahhaha who wrote (34773)	6/2/1999 6:22:00 PM
From: The Barracuda™	Read Replies (1) of 116769

Is the BOE's decision to auction off gold destabilizing the gold market? Upwards? In prior central bank gold sales, the banks secretly hit the bids in the open market. The BOE's sale however is an auction that is not open to the public. If the gold market started to rise prior to a auction, and some gold buyers wanted that block of gold, could the auction format gear the price of gold upwards since the buyers were eager to acquire this large block of gold. Since price goes to where the supply is, could the effect of the auction be to force the price of gold up to a point where someone else could supply this amount of gold?

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