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

To: Ken Benes who wrote (36062)	6/28/1999 11:58:00 AM
From: Claude Cormier	Respond to of 116753

<<Unfortunately, as the cb gold is filtered into the market, as has been demonstrated, it has upset the equilibrium price of gold. >> Of course, to some extent, the price of gold is influenced by those hedging program. But keep in mind that it has never been demonstrated that all the gold from forward contracts is sold on the market at signature time. The sales by the bullion banks may well span over time. I submit the idea that the gold trades that are unrelated to hedging programs have far greater effect on the price of gold. A.K.A The recent sale by the BOE, the Australian sale last year, the Korean dumoing in early 1998... etc.