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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (60358)	9/3/1999 7:31:00 AM
From: Lucretius	Respond to of 86076

the fact that somebody is trying to squeeze out another buck out of that INTC teeter totter is just UFB.. nobody thinks they can get hurt and they'll always be able to get out... amazing....

To: MythMan who wrote (60358)	9/3/1999 8:24:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 86076

the farmers in OK that won the lottery just said they were going to "invest" the money on ABC's Good morning america... ho ho ho

To: MythMan who wrote (60358)	9/3/1999 8:30:00 AM
From: Lucretius	Respond to of 86076

pay close attention to the part about lease rates.... Friday September 3, 6:48 am Eastern Time Gold price flat despite lease rates hike LONDON, Sept 3 (Reuters) - Gold held steady near $255.00 during early European business on Friday despite a hike in lending rates caused by position squaring ahead of the U.S. long weekend, dealers and analysts said. Palladium was unmoved by news that Russian metals giant Norilsk Nickel restarted palladium exports in mid-August after their suspension in April when an export tariff was imposed on precious metals. London gold fixed at $255.40 a troy ounce, 20 cents up on Thursday afternoon's $255.20 as spot prices moved sideways. Gold lease rates jumped sharply overnight, with the shorter dates moving most, as fresh borrowing failed to find willing lenders ahead of the United States's Labor Day long weekend. Implied lease rates for one-month gold hit 3.94 percent, up 73 basis points on Thursday's early European levels, with progressively smaller rises across the curve out to one year. ''There was certainly no new lending and because it's the long weekend, there have been a lot of people coming in to cover their positions,'' one London analyst said. Market participants borrow gold for forward transactions, options and gold loans, generally profiting from the differential between gold and money market rates. The Reserve Bank of Australia, which sold 167 tonnes of gold in 1997, said last week it had lent out most of its remaining 80 tonnes of gold over the year 1998/99. It estimated gold on loan from central banks had broadly doubled over the past five years to more than 4,500 tonnes. Spot gold was last at $255.20/$255.70, unchanged from Thursday's New York close. A spokesman for Norilsk First Deputy General Director Dmitry Zelenin told Reuters that palladium supplies of powder and ingots had been sold on the American and Japanese markets. He did not say how much the company had exported, but said Norilsk planned to keep supplies steady. Palladium was last at $346.50/$348.50 versus its U.S. close of $350.45/$355.45 but unmoved on the news itself. Silver was up four cents at $5.19/$5.21 and platinum was down $2.40 at $350.00/$352.00.