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

To: long-gone who wrote (40202)	9/11/1999 10:13:00 AM
From: The Barracuda™	Read Replies (3) \| Respond to of 116762

Any one else here long the C$?

To: long-gone who wrote (40202)	9/11/1999 6:08:00 PM
From: PaulM	Respond to of 116762

Tight Gold Loan Rates Seen Heartache for Shorts This may have already been posted, but the last sentences really say it all. "....record demand from foreign jewelry makers and hoarders as gold got cheaper, means there is less supply of idle metal to lend...." "'Historically people would have held gold in say Loco London (warehouse) accounts and relent to the market,' said Ian MacDonald, manager of precious metals trading at Commerzbank. 'But that isn't happening anymore because you don't have western investors holding gold. It's all going under the mattresses in the Middle East, Far East and India.'" canoe.ca P.S. IMO the gold market--the real physical gold market--is very much a First World/Third World struggle. With these countries gain affluence relative to the US in particular (the current ten to one or hundred to one difference in living standards is unsustainable over the long run) the gold market is headed for widespread force majeure. This is another reason the recent rise in oil and dollar weakness is very important.

To: long-gone who wrote (40202)	9/11/1999 6:35:00 PM
From: PaulM	Respond to of 116762

Richard, Here is the IEA's Most Recent (Sep 10) Oil Report iea.org (click "current month highlights") The IEA is again wondering out loud why prices are so high, given the large stock "overhang." BUT take a second look, the vast majority of the "overhang" is in NON OECD countries. (e.g., 2Q99 shows 360 mb "overhang", of which 240 mb is NON-OECD, 36 mb is at sea and 84 mb is OECD). Now, the IEA is actually a part of the OECD, which has 29 member countries: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, The Netherlands, New Zealands, Norway, Poland, Portugal, Spain, Sweden, Sitzerland, Turkey, UK and U.S. Ask yourself, if the global petroleum "overhang" is not in the OECD countries, then where the hek is it? If it exists at all, it must exist in third world/OPEC countries (i.e., precisely those countries that want to curtail supply). Here is the "missing barrels" article again, which I always think is worth a repost worldoil.com