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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (34996)	6/9/1999 2:30:00 AM
From: Wade	Read Replies (1) \| Respond to of 116764

Did any one notice that XAU refuses to go down while POG keeps on hitting new lows? Is POG over sold? Or, XAU hit a support? And how long can the support last? I hope some one has the answer. Sincerely, Wade

To: PaulM who wrote (34996)	6/9/1999 7:14:00 AM
From: long-gone	Respond to of 116764

<<Looks as though those on the short end of the market can spin some pretty good conspiracy yarns of their own! Something tells me the British gold auction will be oversubscribed and above market. (You'd think, though, that producers bent on raising the price of gold might first try less drastic measures. Like covering their own shorts). Richard, I wouldn't be surprised if the current POG finally proved the point you've been making all along. Either there will be a gold loan default OR gold will go into backwardation OR deliverable gold on one of the exchanges will not be delivered OR another central bank will unload gold. So far, we've seen only the last one. But I think the British summer auctions mean a lender somewhere isn't allowing a borrower to roll over a loan.>> What I'm betting will happen is that if there is more than one producer involved in a single gold buy(or even bid), at a notably higher than spot price, (that bit%*) Janet Reno will move against the involved producers for market manipulation and conspiracy to fix a higher price. Then, at least, the whole world will know where the down manipulation starts - ends - and that a major political change will be needed before there is anything even remotely resembling a free market. A big part of the problem with getting enough political pressure to stop the lower manipulation of the price of gold is that most of the public(and even some in Congress) does not understand: 1) Why it would be manipulated lower - that a non-political pay-day can exist on the down as well as the up side. 2) How it could be done under this political system which beats up B. Gates 3) That via leverage a much larger than actual physical supply (& to a lesser extent demand can be controlled) 4) Does not understand the market is bigger than the government and if fund flows were really available $5500 per oz gold would be possible I wish I had 1/10 ounce K-Rand for each E-mail reply I've gotten from conspiracy groups that ask these very questions or have bought into the basic idea of the manipulators that "gold is irrelevant". Does anyone else find it "funny" that much of the Clinton's money came via plays in the futures markets? Did no one else even note how there has been near proof that these very profitable plays have been called market manipulation by some on the other side of the aisle? These are very sharp connected people who ran under the cover of "It's the economy stupid".