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

To: Bill Murphy who wrote (35277)	6/13/1999 3:50:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116764

Bill, this thread reminds me of those tv programs where a group of persons all sit around a table and discuss current events, each person has his or her unique view and understanding. Shows like Meet The Press and Face The Nation and Cross Fire. Seems like every person is correct and each other is off the mark. I think they are called "talking heads". Imagine if current events could be understood, truth and falsehood knowned. If so then these talking heads would be out of a job. As long as current events are created and controlled thru unhonorable means a murky view will what be observed to the masses, and it will seem any answer or explaination is possible since its a mess out there and the collection of information cannot be easily verified as correct or tainted. Many on this thread want to be able to predict with accuracy where the price of gold will go. Each threader to do so has to build a knowledge base to use as a calculator, and using this they put forth their predictions. Now you come along and say that this gold price has been fixed and rigged and what you see out there is not based on the laws of economics, but the work of people to control gold for unlawful and unmoral reasons. If you are correct then the knowledge base of all these threaders is build with doodoo and the rules of cause and effect are governed not thru logic but "anything goes". If you are right, then talking heads on this thread have nothing to say until the broken system is fixed. Doug

To: Bill Murphy who wrote (35277)	6/13/1999 4:00:00 AM
From: Don Green	Respond to of 116764

> Richard, You are unique, compared to other nerds on this thread that just try and be negative. They bore me to death and I will not respond. If it causes others to think my action is not appropriate, I am out of here for good. Bill If that is truly how you felt, you should have and would have posted it back channel / private message.... But you didn't! regards Don

To: Bill Murphy who wrote (35277)	6/13/1999 11:54:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116764

Thanks,

To: Bill Murphy who wrote (35277)	6/14/1999 8:48:00 PM
From: ForYourEyesOnly	Read Replies (3) \| Respond to of 116764

Interesting Commentary w/Manipulation Twist: The precious metals were all lower this trading day with gold holding the $260 support area, silver attempted resistance at $5.15-$5.18 and failed, and platinum and palladium were lower due to some strong physical selling in the Far East. The Tiger Fund, run by Julian Robertson, was the rumored seller overseas last night. But, of course, they would not comment. Other anecdotal evidence would demonstrate that the sellers were Russians. Nevertheless, this selling ran palladium down $8, and platinum about $5.50. These markets looked on the verge of breaking out on the upside last week but it was not to occur. I have been writing in this newsletter that I strongly believed that the Bank of England has a hidden agenda in their proposed gold auctions. It was my contention that the goal was certainly not to maximize their financial return but truly spoke to other motivations. On Friday, the Bank of England released the terms and conditions of their auction on their website ( www.bankofengland.co.uk ). I was struck by four facts in a cursory reading of the offering. (1) All of the gold will be sold at the lowest acceptable price. (2) Physical inspection of the gold will not be permitted. (3) The gold is sold "as is". (4) Now, the most unbelievable and preposterous condition. And, I quote, "While the description of the gold set out in Parts II and Parts III above is believed to be correct, neither HM Government, HM Treasury, nor the Bank of England, makes any warranty, express or implied, with respect to the weight and quality of the gold." All prejudices aside, what the hell is going on here?? I do not pretend to understand the motivations of the British treasury, but it certainly appears that this auction has been specifically structured to sell the gold at the lowest possible price. And, if so, why? With the Financial Times gold conference now occurring in London, there was a great deal of official announcements: As follows: Germany officially supported the IMF sale of as much as 10 million ounces of gold although they were concerned that this sale had not brought more professional review and that better alternatives were available. The Swiss government said that they expect to have a legal framework in place next year to allow the bank to start selling the first of 1300 tons of gold from their reserves. They also commented that the preceding number would not exceeded in regards to their sales. Taiwan's Central Bank said on Monday that it had no plans to sell down their gold reserves, despite sales by others. South Africa suggested that future official sales of gold be conducted in a regulated manner through the BIS to ensure market transparency and stability. The Bullish Consensus was released today and shows that sentiment toward gold is at it's lowest reading since June 30, 1981 at 13. This would indicate that everyone who wants to sell gold already has, either sold their long holding or gone short. This must be interpreted as a danger sign for shorts in the market. We will have some recommendations below. Just more data point on gold, Macquarie Bank estimated that around one quarter of Western world gold mines, or about a fifth of Western world mine supply, were operating with total cash costs higher than current price levels. It is a truism that a commodity can not sell under its cost of production for very long. This economic tenet must be expanded due to the large above ground supplies of gold but it does give one a sense of the future of price levels should the official sales moderate or if the price drops much further. Lastly, silver keeps moving out of Comex depositories at these relatively low prices. As of this date, about 75.8 million ounces remain and this is only about 1.4 million ounces from the low seen in February of this year when silver concurrently made its highs for the year. Please keep a close eye on this data point. Frankly, it makes us very bullish, all we need to see now is rising lease rates to really get us bullish. Lease rates in platinum are now about 5.5% per annum. At this time, we would strongly recommend the physical purchase of platinum and its subsequent lease into the marketplace using our reverse repurchase program. Not only do you benefit from a potential rise in price of platinum (and naturally suffer from a decline), but you can receive an income stream higher than current T-Bill rates.GOLD OPEN POSITIONS: LONG 2 UNITS AUGUST 275 PUTS BOUGHT AT $3.30 CLOSE $13.30 LONG 1 UNIT AUGUST 270 PUTS BOUGHT AT $4.50 CLOSE $9.60 YESTERDAY'S RECOMMENDATION: As per our recommendations, traders covered 5 units of August gold shorts at this morning's opening at about $261.50 to yield a profit of about $4200.00. We took profits of about $4200.00 this morning and our open positions have a mark to market of about $2500.00. The market looks like it wants to go higher here. I look for a move to $264 or so. It was somewhat positive that the market held $260.00. RECOMMENDATIONS: none.SILVER OPEN POSITIONS: LONG 2 UNITS OF JULY SILVER BOUGHT AT $5.08 CLOSE $5.105 LONG 1 UNIT OF JULY SILVER BOUTHT AT $5.095 CLOSE $5.105 YESTERDAY'S RECOMMENDATION: none. Nothing really to say but the next 10 cents up will be tough sledding. The weekly charts are looking really good but the daily charts look overbought. RECOMMENDATION: none.PLATINUMOPEN POSITIONS: LONG 2 UNITS OF JULY PLATINUM BOUGHT AT $364. CLOSE $362.70 LONG 2 UNITS OF JULY PLATINUM BOUGHT AT 368.20 CLOSE $362.70 YESTERDAY'S RECOMMENDATION: none. I think this market could easily rally into the $380's. All the conditions are there. High lease rates, rhodium skyrocketing, palladium strong, technicals strong, daily charts strong. Use a stop close only at $355.00 on the positions above.RECOMMENDATION: none. Naturally, all investors who hold precious metals should look into our reverse repurchase program whereby they can capture current lease rates. It makes no sense to own physical precious metals without gaining a stream of income. Please call with any questions.PALLADIUM: YESTERDAY'S RECOMMENDATION: none. Although I think this market is going higher, the risk/reward relationship is just not attractive. There is nowhere to put a calculated stop. We could see a $40 drop and the market could still be good. No thanx. RECOMMENDATION: none.Leonard KaplanChief Bullion Dealer

To: Bill Murphy who wrote (35277)	6/17/1999 8:54:00 AM
From: ForYourEyesOnly	Read Replies (2) \| Respond to of 116764

Long-Term Strikes Back (This is interesting!) In reaction to allegations made by the Gold Antitrust Action Committee (GATA) , Eric Rosenfeld, a principal of Long-Term Capital Management filed an affidavit in Connecticut court today denying the hedge fund was involved in any manipulation of the gold market. "None of Long-Term Capital Management, [Long-Term Capital Portfolio] nor their affiliates has ever entered into any transaction involving the purchase or sale of gold, including without limitation spot, forwards, options, futures, loans, borrowings, repurchases, coin or bullion, long or short, physical or derivative or in any other form whatsoever," the affidavit states. The ill-fated hedge fund did trade in six gold mining stocks involved in mergers as part of its arbitrage strategy, but "such equity positions never exceed $25 million in value on a gross basis long and short at any one time, and actual net positions were significantly less," the statement says. Neither Bill Murphy, chairman of GATA, nor attorneys at Berger & Montague, the firm hired by GATA to investigate alleged manipulation of the gold market, could be reached for comment. thestreet.com

To: Bill Murphy who wrote (35277)	6/18/1999 12:04:00 AM
From: Zardoz	Read Replies (2) \| Respond to of 116764

compared to other nerds on this thread that just try and be negative. They bore me to death and I will not respond. If it causes others to think my action is not appropriate, I am out of here for good. Hmmm, when I read this: #reply-10154876 "None of Long-Term Capital Management, [Long-Term Capital Portfolio] nor their affiliates has ever entered into any transaction involving the purchase or sale of gold, including without limitation spot, forwards, options, futures, loans, borrowings, repurchases, coin or bullion, long or short, physical or derivative or in any other form whatsoever," the affidavit states. I get the impression that you are really leaving because you feel you are either a) out classed, b) loosing and are afraid to meet your supporters or c) chicken of debating. The fact that you try to subjugate other with your diatribe insults, is well just YOU. You can't expect to post you GATA stuff and not be open to questions and comments. Your attempts to hide shows your lack of knowledge. Grow up, get back here, and justify your opinions.