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

To: long-gone who wrote (36223)	6/30/1999 10:19:00 PM
From: PaulM	Read Replies (3) \| Respond to of 116898

Andy Smith Lease Rate Comment "Andy Smith...described the move as 'bizarre'...adding that the rise was not significant.'You have got to get to two or three percent and stay there to spook committed shorts,' he said." biz.yahoo.com

To: long-gone who wrote (36223)	6/30/1999 10:43:00 PM
From: PaulM	Respond to of 116898

Richard, wouldn't be surprised if all hell broke loose next week. I think it's interesting that lease rates (i.e., the ONLY indicator of the cost of physical metal in the age of derivatives) are moving higher across the board in metals markets. My take: there is a developing liquidity squeeze in one or more of the physical markets and the sophisticated hedgers are responding the only way sophisticated hedgers know how: by taking delivery of physical in OTHER markets that should move in more or less the same direction. (egs. sure the silver (or the gold) market will break down, but my real palladium will be worth more too!)