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

To: Bill Murphy who wrote (35713)	6/23/1999 12:47:00 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116779

Bill: We are nearing a moment of truths. We shall see how much influence the cb's have over the producers. If their influence is weak or becoming strained, the producers should have little difficulty over turning the results of the most egregious example of cb interference in a market. Namely, the announcement by the BOE to sell 415 tonnes of gold in scheduled auction. The results, they discounted the proceeds of the sale, hmmmm. Any overt move by the producers to purchase that gold in the open market in its entirety will unnerve the gold market. Again, I ask will it be done. It should if the producers act in their own interest. No, if they are pressured by the cb's to retain the role that they have been playing. Allowing gold to trade at its equilibrium price is letting it trade as a commodity. Reference is made on a daily basis that golds role as a monetary vehicle is over, then let it trade freely. The next move is up to the producers. Today as usual, reports permeated the news of new producer selling with the cb's feeding the market. When are they going to learn. Ken