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

To: Enigma who wrote (46237)	12/23/1999 10:04:00 PM
From: Eashoa' M'sheekha	Respond to of 116795

>>What will turn sentiment around?<< The sentiment has already been turned around,since Gold was on its way to US$200 Poz.But it is big ship that does not turn around easily when in the harbour.It needs clear sailing and a wide berth in open seas,clear of deadheads and threats of being boarded and pillaged. The press has lost interest now you notice.Their " job " having being completed successfully.News that may be considered positive stills get little attention,so they have turned somewhat neutral to just plain bored..like most of us. The 15 Banks put MANY on notice they must clean up their acts.The UK still hasn't figured out what to do with itself these days.It cannot stand alone as an island like it could in the " Jolly OLDE Dayz ". BTW---Why was it called the " Washington Accord "? Anyway....you were mostly correct in your thinking that it was indeed the UK who first pushed for the IMF agenda.But, loud noises were being made in America at least year before this initiative actually took hold to do exactly that.It was quickly embraced by the usual group who feel our/your future lies in the belly of the stock market. Now we have this " I give you gold and you give it back and we all somehow make money " thingy that totally perplexes most.I really must figure this out..seems like an interesting way to make a living...whot? As far as your need for proof....good ruck!!All we ( and you if you give a hoot about being bamboozled )can do is follow the story.It is an interesting one and much can be learned if you remain objective and are careful with your bets. Gold will someday return to " equilibrium ".We are far from there right now.You cannot continue to lease something that gets consumed in an ever demanding market without the normal supply and demand equation taking its rightful place. That is of course...unless its a conspiracy.<G>

To: Enigma who wrote (46237)	12/24/1999 4:59:00 AM
From: Richnorth	Read Replies (2) \| Respond to of 116795

I am afraid you seem to be unable to distinguish between what is reasonable hedging/shorting and horrendously EXCESSIVE hedging/shorting in the market place. If blatantly irresponsible and arrogant hedging/shorting was not practiced by Ashanti and Cambior (whose "fiduciary" advisor was none other than Goldman Sachs), then these companies would not have been looking at the abyss recently. This very fact speaks volumes regarding manipulation. Are you being paid to post what you have been posting? BTW, A man convinced against his will Is of the same opinion still!!!

To: Enigma who wrote (46237)	12/24/1999 8:59:00 PM
From: Richnorth	Read Replies (1) \| Respond to of 116795

Whereas DoubleD is convinced there is no conspiracy, Arthur Hailey believes there is! Barrick's hedging program is the envy of the industry. Its "premium gold sales program" has generated more than $1-billion (all figures in U.S. dollars) in additional revenue over the past 11 years. To protect themselves against declines in gold prices, Barrick and other producers borrow gold from central banks at low interest rates, then use the money to acquire better performing bonds. In theory, the "contango," the spread between bond yields and the leasing price of gold, provides a risk-free growth strategy. The problem is some producers were caught off guard when gold unexpectedly surged to $339 an ounce in October. The jump has left Ghana's Ashanti Goldfields Co. Ltd. and Cambior Inc. of Montreal struggling to cover millions in creditor's claims. Gold has since slumped to the $285 level. Nevertheless, many hedgers and short-sellers remain "in a bind," said Mr. Hailey. "The price going up has made life very difficult," he said. The assurances have failed to convince Mr. Hailey, whose 1997 urban thriller Detective sold millions. So will he be turning his writing talents to the murky gold trade? "The answer is no. I'm sure there's a story there, but I won't be the one to write it."