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

To: long-gone who wrote (44015)	10/27/1999 7:12:00 AM
From: lorne	Read Replies (2) \| Respond to of 116915

Battle Mountain hedged 300,000 oz of gold over next 4 years New York--Oct 26--Battle Mountain Gold Co. said it has taken advantage of the rising market to hedge a total of 300,000 ounces of production for delivery over the next 4 years, or about 19,000 ounces per quarter. As well as part of its 90-day gold sales program, the firm could be required to deliver 15,000 ounces of gold in the fourth quarter of this year at $320 an ounce. (Story .24385) crbindex.com

To: long-gone who wrote (44015)	10/27/1999 1:23:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 116915

Nope. No one controls any price. Some can influence price briefly like one day. I read Doug A.K.'s capture of Bill Murphy's quote about the axis attempting to fix the price of gold. There's no question that the some CBs and mining companies have a vested interest in fixing the price of gold. With all their might that isn't possible. The FED has a vested interest in fixing the price of money, but the market isn't interested. The market is concerned about lending at rates the FED says are adequate. They won't believe it, so FED can only spray some gasoline on the advancing fire to slow it down. Same with the axis. Any attempt to contain the price of gold will multiply its eventual rise. The axis is only attempting a price manipulation so they can dump their guaranteed expected LTCM-like return vehicles onto the public. If the market doesn't want them to get away with it, the market should squeeze them. The problem is that conditions aren't right for buying which would make this successful just yet. Short term inflationary pressures are weakening. They'll start up again next year. The result is the stock and bond markets will rally under this umbrella and the immediacy of hedge clearing will disappear. The clever speculator dumps gold stocks now and starts bidding for tech stocks, utilities, airlines, all the companies which have been in a bear trends since 4/98. The bear is losing its grip at least for now. The result is the axis doesn't need to fix anything. They're all hacks and can't see how the nature of reality would like to bail them out. They only shoot themselves in the foot by machinations and manipulations. The current gold price movement downward reflects a general public attitude about the metal. The players want out. The last six months which presumably was a manipulation created a negative psychology which hasn't been exhausted. There hasn't been enough inflation or other chaos to change the psychology sufficiently, so the gold price will have to fall its way up.