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

To: jgibbs who wrote (39226)	8/18/1999 1:03:00 PM
From: Ken Benes	Respond to of 116906

When it comes to the battle over the gold price, the cb's have enormous tools to work with. Yesterday, I mentioned that the foreign producers would be the first to cave thereby thwarting any significant rally in gold. Today, we have the first evidence of that with South Africa calling for managed care of cb's gold sales. Truthfully, South Africa should have held firm and called for a cessation in gold sales, they didn't. The cb's are taking no chances of gold getting too much above 260.00 an ounce. What is particularly noteworthy, this occurred almost simultaneous to the bullish report for gold demand published by the world gold council. It is going to take much more than rumor, innuendo, expose's, high lease rates and rising gold demand to undermine the bearishness in the gold market. Ken