Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (37349)	7/19/1999 5:44:00 PM
From: Ken Benes	Read Replies (1) \| Respond to of 116785

A new week and the same old story, gold price continues to lanquish poised for further declines. GATA still out there fighting, enlisting anyone and everyone in losing positions to pick up the staff and charge the line drawn in the sand by the central banks. Unfortunately, not only have the cb's not blinked, but the have characterized those who question their activities as individuals who are part of some fringe element of malcontents who are not happy unless they are trying to expose a new conspiracy. Gentlement, nothing is going to happen until and unless, the producers remove a good deal of unprofitable production as the copper/oil producers have done, and replace the deficits with gold mined in the vaults of the cb's. It is that simple. Ken

To: long-gone who wrote (37349)	7/19/1999 5:55:00 PM
From: Ken Benes	Read Replies (1) \| Respond to of 116785

Richard: The following is a bit of commentary from Bob Bishop's Gold Mining Stock Report, "The May 7 public announcemnt of the BOE's intentions served to cut almost $30,00 off the per ounce price of the 25 tonnes sold yesterday, but it was the lackluster bidding that caused the gold market to fall to a new 20 year low in the wake of the sale, Rather than see a name of note, a mining company covering a hedge, or aggressive bidding for amounts of gold not commonly offered-all scenarios I wishfully offered as possibilities-instead, we saw only commercial banks in the auction, all bidding below market prices. Rather than seeing an auction that could have established a more positive tone to the gold market going forward, instead, we saw an auction that many are now describing as a dangerous precedent for future auctions." Richard, no ra ra's for GATA, no explosive news releases, and no allegations of a gold conspiracy is going to help this market. The producers are the ones who hold the answer, and right now they are as impotent as they have ever been. A good dose of Viagara could not get these guys up to the task necessary to rescue their market. Ken