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To: GST who wrote (79611)	10/5/1999 12:09:00 AM
From: dbblg	Respond to of 164684

>>Who do you suppose is the other side of the trade? Producers? -g-

To: GST who wrote (79611)	10/5/1999 12:14:00 AM
From: Bilow	Read Replies (1) \| Respond to of 164684

From what I hear, the producers have quit selling forward. The funny thing I noticed is that most of the $60 move up in the metal over the last two weeks has happened while New York or London was trading. Tonight's positive action is in the far east markets, and this is, I believe, a little different. It was like most of the short hedge covering was happening in Europe and US. This sort of makes sense, if the other side of the hedge was US bonds. But it looks like there is buying interest world wide now... Things should be interesting tomorrow. Futures are down a little, but the dollar doesn't look particularly weak. If gold hits $400, the gold stocks are going to go absolutely bonkers. What amazes me is how far gold has gone towards that price in just two weeks. -- Carl