Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: d:oug who wrote (40740)	9/24/1999 6:44:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116763

The word is starting to circulate that the gold borrowing shorts are beginning to realize they are trapped. The physical gold market is very tight. That is why Goldman Sachs took 90% of the August deliveries on Comex. They needed protection. The gold shorts are looking for exit strategies. For that they need physical gold or a plan on how they can locate it in the future. It must have been a shock to them to find out Gold Fields Ltd. and Anglogold Ltd. of South Africa, two producers, bid for gold at the BOE auction. Sources of gold supply are drying up - and fast. They know it. They can feel it. They are looking for a way out. The gold loans are probably in excess of 10,000 tonnes now. What if just 1/3 of the gold borrowing shorts want out? Where do they find the gold? That would be 3,000 tonnes of buying. Mine supply this year will be about 2550 tonnes.