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

To: Rarebird who wrote (39005)	8/14/1999 4:30:00 PM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 116892

Goldman Says Gold Bullion Holding Sign of Demand New York, Aug. 13 (Bloomberg) -- Goldman, Sachs & Co. has amassed $124 million of gold bullion, saying it expects demand to improve in the months ahead. Goldman has taken control of half of the gold in New York Mercantile Exchange warehouses, according to the exchange records. Goldman described the transactions as normal business activity, though some traders speculate that a shortage may be developing. "People smell a rat here," said John Brimelow, head of international equities research at Donald & Co. in New York. "Nobody else seems to believe this is at all normal." Goldman turned more positive on the gold market in late July amid expectations that reduced mine output will lead to higher prices. Prices fell almost 13 percent after the U.K. Treasury said in May that it would sell about 60 percent of its gold reserves. The decline forced two gold companies in South Africa and Sweden to file for bankruptcy and led six South African mines to say they intend to fire 11,700 miners. Yet gold has rebounded 3.5 percent from a 20-year low on July 19 and this week alone it gained 1.7 percent, the biggest one-week rise in 10 months. "We are seeing strong physical demand," said Goldman's spokeswoman, Kate Baum, in New York. Goldman had taken delivery of 473,500 ounces of gold as of Thursday through 4,735 August futures contracts, according to the exchange's Comex division, where gold, silver and copper are traded. That's about half of the warehouse total of 948,973 ounces. The gold still is in Comex warehouses. The firm has been increasing its gold holdings all month, the exchange said. The metals market has attracted other big investors in the past few years. Tiger Management, the New York-based hedge fund, is estimated to have bought as much as 1.5 million ounces of palladium, or about one-fifth of world supply, while billionaire investor Warren Buffett's Berkshire Hathaway Inc. last year said it had accumulated 130 million ounces of silver, equal to about a quarter of annual mine output. Gold for August delivery closed unchanged at $261.70 an ounce on the Comex. The most-active December contract rose 20 cents to $263.20 an ounce. It was the highest closing price since July 2, just before the U.K. sold the first of several 25-ton lots of bullion. quote.bloomberg.com

To: Rarebird who wrote (39005)	8/14/1999 10:32:00 PM
From: long-gone	Read Replies (2) \| Respond to of 116892

<<New York, Aug. 13 (Bloomberg) -- Goldman, Sachs & Co. has amassed $124 million of gold bullion, saying it expects demand to improve in the months ahead. Goldman has taken control of half of the gold in New York Mercantile Exchange warehouses, according to the exchange records. Goldman described the transactions as normal business activity, though some traders speculate that a shortage may be developing. "People smell a rat here," said John Brimelow, head of international equities research at Donald & Co. in New York. "Nobody else seems to believe this is at all normal." Goldman turned more positive on the gold market in late July amid expectations that reduced mine output will lead to higher prices.>> Ya think GS talked BOE into selling just so they could buy and catch the rest of the shorts, well, short? Like I said long ago no reason to break anything if you do not first have a plan in place to buy it up & run it up? Should someone also ask something about honor among thieves?

To: Rarebird who wrote (39005)	8/14/1999 11:16:00 PM
From: long-gone	Read Replies (2) \| Respond to of 116892

"Anyone who believes that market prices are dictated by natural market forces, supply and demand, capital reserves, and so on is a prime target for fleecing. The gurus do control the market...which can only mean disaster. I suppose they are the same people who watch Billy do the circuit from dictatorship to dictatorship and in their confusion believe pigs can fly... " And Now theFinancial Apocalpyse <http://www.zolatimes.com/v2.24/apocalyptext.html> by J. Orlin Grabbe Name: LoneWolf Email: lonewolf@cow-net.com Comments: I was there in 1987 as the operations manager of an investment dealer with several hundred well-heeled clients. When the market turned the first day and then the second I knew immediately that it was not a "crash". Had it been it would have been over by the second morning. Instead the market took a nose-dive on the third day due mostly to the perception on Wall Street that it was a crash. The media wasn't exactly playing up the role of the short sellers... All it was was a short-selling frenzy... It was as engineered as was the crash of '29. As Mr. Grabbe points out, the financial gurus (are they still called that?) are certain they are in charge, they "control" the market. Actually their bosses do but why split hairs. What is said but not heard is the assertion that natural market forces are viewed as entirely irrelevant...free enterprise has been wrestled to the ground and need no longer concern the Wall Street mandarins. Which of course means that the money lords can do what they want. Which means they most certainly will bring down the market when and if it suits them. To make sure no one walks away with any unauthorized fortunes they most likely will pull the rug out from under the dollar at the very same time. Anyone who believes that market prices are dictated by natural market forces, supply and demand, capital reserves, and so on is a prime target for fleecing. The gurus do control the market...which can only mean disaster. I suppose they are the same people who watch Billy do the circuit from dictatorship to dictatorship and in their confusion believe pigs can fly... zolatimes.com