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

To: d:oug who wrote (47205)	1/19/2000 4:14:00 AM
From: d:oug	Respond to of 116752

(GATA News) A zillion fleas up an elephant nose.(gata tiger & water buffalo) It is not a mirage. Chase and Goldman Sachs turned buyer during the New York Comex session to push the gold price higher. Can't remember a time when they were both on the same buy side. How can producers stay heavily short forward gold - looking at a growing world economy, skyrocketing oil prices and soaring bond yields - and then knowing what happened to Ashanti and Cambior (among others we hear)? Gold rallied uncontrollably over $80 in late September. Why not $180 next time? Or $280? What if some big shorts try and cover 2,000 tonnes of the 10,000 tonnes of gold loans. Total mine supply for all of 1999 was only around 2559 tonnes. Good luck!!!!!!! Specs have developed little appetite for gold because rallies never hold. We know why. A gold price explosion could occur any day again. It all depends on whether the manipulating forces lose control as they did before or feel they have to change their game plan because of growing awareness of their scheme. The gold/oil ratio is almost exactly 10 to 1. A gold buy signal if there ever was one. Bonds swooned as long bonds finished that day at 6.75% while the yield curve is flattening as short term rates are catching up to long rates by going up in yield even faster than rate of the 30 yr bond. The bullish scenario for gold grows by leaps and bounds every day and few seem to care. "The Federal Reserve Board would not support the markets in the event of a sudden slide in the value of stocks, according to Philadelphia Federal Reserve Bank president Edward Boehne." "In a speech here, Boehne said: "The Fed does not and should not target stock levels. Investing on the stock market is a two way street." The renowned Harry Schultz sent Chris Powell and me the following. We will be forever grateful for all the support he has generated for GATA: "A year ago, the writings/attacks by Bill Murphy & GATA against Goldman Sachs and other bullion dealers seemed like a flea attacking an elephant. Now, a year later, the flea has transformed into a tiger, and the elephant has shrunken to a water buffalo. The water buffalo is still a formidable opponent, but I wouldn't bet against this tiger." Speaking of Harry Schultz. Remember his lofty oil price predictions. He may have been a little early, but a doubling or even tripling of the oil price even from these high price levels cannot be counted out if the Y2K problem is much worse than even we can imagine. Harry's call looks more plausible and better and better each passing day. Bill Murphy, Chairman, Gold Anti Trust Action (GATA) The GATA web site is as follows. gata.org Bill Murphy of GATA can be reached via e-mail at Le Metropole Cafe whee he is the Le Patron, as follows. lepatron@lemetropolecafe.com