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


To: Enigma who wrote (39031)8/15/1999 9:36:00 AM
From: Rarebird  Read Replies (1) | Respond to of 116880
 
< Did the first auction ( back then ) have a similar effect to the first B of E one? >

Back in the 70's, the POG fell sharpely after the announcement of IMF sales and after the first auction. The gold market then regained its composure and rallied very sharpely, reaching a peak of $850 an ounce. Ultimately, the fundamentals will move the POG and the XAU and these fundamentals are now turning positive for Gold.