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

To: Bobby Yellin who wrote (42757)	10/12/1999 9:43:00 AM
From: Ironyman	Read Replies (1) \| Respond to of 116759

TAKE NOTE: The Platinum lease rate has now hit 80%

To: Bobby Yellin who wrote (42757)	10/12/1999 11:27:00 AM
From: Terry Swift	Read Replies (1) \| Respond to of 116759

If you're looking at the intermediate to long term, it's cheap but I believe this market is still quite volatile and the shorts; i.e., the bullion houses and hedge funds, haven't given up yet. As Bill Murphy advised the GATA members last night (posted here, I belive), there are rumors that the CBs are deliberately holding gold in a trading range of $315-$330 to prevent a blood-bath and bankruptcies by some very big financial institutions that are very short gold. In fact, the London FT reported that Ted Arnold at Pru Bache flat-out stated for the record that the CBs will hold gold in a tight trading range until the shorts can unwind. If they can hold it in a narrow trading range, it will give the shorts time to unwind there naked Dec. calls and give the producers time to clean up their hedge books. I fear we are still being manipulated for now, only at higher levels. They can't keep the game going over the long term. I'm very bullish long term but over the next few weeks, anything is possible. I can't believe the big money shorts are going to give up without a further fight to push the price back down. It is, and will conintue to be a war.