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

To: IngotWeTrust who wrote (41534)	9/29/1999 6:33:00 PM
From: Sam	Read Replies (2) \| Respond to of 116764

picked off a news letter ,hope he knows.could not send the whole release.forbidden sam , the BOE gold sales are actually a bullish signal and it seems the market took a hold of this Wednesday when the latest auction actually highlighted the enormous demand for gold at these artificially low prices. The auction of 25 tonnes drew bids for 8 times as much, and the gold sold at a price above spot prices. South African, AngloGold Ltd. bought 12% and you can understand why, with prices this low it is cheaper and easier to buy it then mine it. . Little Gold Left to Buy What is going on in the gold market? Many must be asking this question, because of the almost 25 years I have been around the markets I have never seen anything this bizarre or strange whether it be in a stock, commodity, futures, options or any kind of market for that matter. At the same time I have never seen an opportunity in the gold market as good as this one. We are seeing record demand for gold like never before and every indicator I have followed in the gold market is flashing bullish signals, yet gold remains at record lows. This defies all the logic about markets, supply/demand and the free capital market rules we have all been accustomed to. In fact it has become so obvious what is now going on in the gold market that it has become a ticking time bomb that is going to explode upwards like we have never seen before, at the very least we will see an upward move in gold similar to the up move in the Japanese Yen when that carry trade unraveled. The same type of carry trade has been going on in the gold market and I would now like to bring the facts forward that show very high odds of a huge upward price in gold very soon. Gold import statistics released for June show that South Korea's imports of gold skyrocketed to 72 tons from 44 tons a year ago (that is one month only, June). The January-to-June total for this year for Korea gold imports is 264 tons, up 38% over the same period last year. In Taiwan, June imports were 94 tons, twice that seen in May of this year, and more than twice the previous year. Year-to-date, Taiwan's gold imports are 368 tons, up from 155 tons at this time last year. Imports are also up in India. There is no doubt the demand for gold is the strongest it has ever been with no signs of easing until market forces/higher prices cut into demand. Another sign of high demand and scarce gold is the lease rate (the cost of borrowing gold) has risen for the 12months from 1.2% to around 4%. Gold normally follows commodity prices and oil prices or even predicts their price movement, but not this time.