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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (68305)	9/27/1999 6:44:00 PM
From: John Dally	Read Replies (1) \| Respond to of 132070

Henry, As the resident expert on gold leasing, what are your thoughts on the 1.3% rate increase in 1-yr gold rates? kitco.com Also, last week, short-term rates were higher than long-term rates. Now it's suddenly the opposite? Thanks in advance, John.

To: Henry Volquardsen who wrote (68305)	9/28/1999 11:23:00 AM
From: BSGrinder	Read Replies (1) \| Respond to of 132070

Henry, If I may interject, it appears that an important part of your point is that "there is plenty of unleased gold available." However, if central banks curtail leasing, as they have pledged, and producers stop forward sales, as is being reported, doesn't that dramatically reduce the supply available for current trading? Thanks, /Kit P.S. Also, why doesn't gold that is being sold forward as a "hedge" have the same market effect as a short sale? In both cases you are creating current supply in exchange for future demand.