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

To: The Barracuda™ who wrote (36702)	7/6/1999 7:54:00 PM
From: The Barracuda™	Respond to of 116767

Kaplan votes for borrowing to sell: Date: Tue Jul 06 1999 18:45 uptick (oversubscription to the BOE auction) ID#277249: Copyright © 1999 uptick/Kitco Inc. All rights reserved As the BOE does not release the buyers names or the prices at which they bid, the oversubscription is a very funny joke, and today we saw the realization of that....If my firm had bid for 50 tons of gold at $3.00 per ounce, then the BOE would have showed the auction oversubscribed by 7 times, and not 5..... Nevertheless, I was fortunate enough to get the clients of LFG out of their long positions on the close Friday in gold, not because I thought it was going down, mind you, but I didnt want to hold a position through the auction...so I was right for the right reason or right for the wrong reason or....whatever... Lease rates in gold rose over 60 basis points in the last three hours of Comex trading....I think that this means that specs are borrowing this stuff just to sell it.... Return to Kitco Homepage -------------------------------------------------------------------------------- After todays price action, I agree.