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

To: Winzer who wrote (36541)	7/5/1999 11:25:00 AM
From: John Hunt	Read Replies (3) \| Respond to of 116756

Re Where is gold going from here? Hi Winzer, Curious George posted a 2 year old Federal Reserve Board International Finance Discussion Paper earlier that convinced me that the central banks have a long term plan to sell or lease all of their gold over the next 10 years or so. Unfortunately, I now think they would be more than happy to accept cash repayment if their lease customer couldn't return the gold. bog.frb.fed.us When the Yen carry trade became 'long in the tooth', the hedge funds moved over to the gold carry trade. I think they believe that, because of the central bank policy as outlined in the above paper, they cannot lose long term. However, governments (and Presidents) can change and Y2K is probably going to make things difficult for them in the short term. As to tomorrow's sale, who knows ... My guess is a rally, but not as large as most people expect (Too many people think there will be one) ... I hope I am wrong and the rally is stronger. BWDIK, Hutch is betting on a decline. :-)) John