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

To: russwinter who wrote (48034)	2/4/2000 11:10:00 PM
From: Rarebird	Read Replies (6) \| Respond to of 116752

<Despite the doubts this move is the real one.> When does the XAU start trading in accordance with the POG? Does Gold have to close above $350 to get the XAU to join the party?

To: russwinter who wrote (48034)	2/5/2000 12:01:00 AM
From: Enigma	Read Replies (3) \| Respond to of 116752

The PDG announcement may well have been the catalyst - but the underlying reason will be seen later, with hindsight, to be the oncoming inflation. The Fed is behind the eightball. IMO the media focused on the PDG announcement and maybe gave it too much weight. After all Goldfields made a similar announcement some time back - and have been lobbying others to renounce hedging. I think something far bigger is afoot.

To: russwinter who wrote (48034)	2/5/2000 12:14:00 AM
From: d:oug	Respond to of 116752

(GATA) If... investors want in on Barrick's plentiful gold assets in the ground. Subj: MINI MIDAS - BARRICK GOLD Date: 2/4/00 10:03:54 PM EST From: LePatron@LeMetropoleCafe.com Le Metropole members, So much happened today and I want to do it justice, so I will have a Midas du Metropole out tomorrow. However, there is one tidbit that came my way this afternoon and I want to get it out to you right away. The Cafe is loaded with plugged in members as to what is going on behind the scenes in the gold industry. They live in South Africa, Australia, Canada, Europe as well as the United States. One of your fellow Cafe members is very close to Barrick Gold and has been giving them untold grief about their excessive hedging. He was the one who told me about their survey of buy side/sell side analysts and that Barrick had put out a powder puff version of the results; ie, the results were a great deal more negative towards their hedging than they let on. As reported in today's bulletin, Placer Dome is curtailing its hedging activities to some degree. It was a HEADLINER. Another one MIGHT come Monday. This fellow Cafe member of yours tells me that it is his understanding that Barrick Gold is going to announce that they will not be rolling over their hedges as they have been doing for a zillion years. They will deliver gold into them as they expire. What that means is that Barrick will no longer be selling into the gold forward market! First Placer, then Barrick, if our info is correct. Will the Australians be far behind or will they be asleep at the switch? This is very very bullish news. The bullion dealers can no longer feed the press with their usual disinformation that it is producer selling that is holding down the gold price. That kind of market pabulem talk is history. Getting carried away here. Have to hold back until tomorrow. The point is that GATA has been urging producers to take this sort of action for months now (Right Flank of our enveloping horn strategy). Ad nauseum, we have been saying it makes no sense for producers to be short the gold market NOW. GATA expressed that we felt that they were shooting themselves in the foot. That if they did not show belief in their own product, who else would? They were turning off investors for their shares. The market agreed as gold share prices have been sinking like a submarine. Today, the XAU finally reversed course and rose 14%, much of that rise coming AFTER the Placer news. One more point to bring up. If Barrick gold does make this sort of announcement on Monday, then I propose that all of us Cafe members get a glass of wine or champagne and toast Arthur Hailey, the great Canadian novelist who sold all his Barrick stock in protest of their hedging policies. That came about because of GATA's request that internet gold share investors send faxes to Barrick gold at the Denver Gold Conference last October to protest their ludicrous hedging policies at that particular point in time and to urge them to cover their hedges. We called it TORA! TORA! TORA! and we announced this suprise FAX ATTACK at exactly 7:50 AM on a Sunday morning as the conference was beginning to convene. That time in the morning was the exact time that the Japanese surprised the U.S. Fleet at Pearl Harbor. I did not even know that Arthur Hailey was a Cafe member at the time. I was stunned when he sent me a copy of the letters he sent to Barrick Gold and also one to Chris Thompson, Chairman of Gold Fields Limited, the world's second biggest gold producer. He praised Chris Thompson for taking his stand about the gold market and his anti-hedging game plan. The point is that Arthur Hailey stepped up to the plate and took action. It caught the attention of the press outside of the United States and many highly regarded journalists reported Arthur's actions after interviewing him by writing lengthy stories of what he did and why. Barrick was besieged by irate shareholders. Many of them read all this Arthur Hailey press and agreed with him. Arthur had been a Barrick shareholder for MANY years. Other shareholders began to sell. Barrick's share price made 52 week lows just yesterday. One of the reasons Barrick's stock did so well today was the rumor of this Monday announcement was circulated among gold fund money managers this afternoon. If Barrick was going to cut back on its rediculous hedging policies, big time investors wanted in on their plentiful gold assets in the ground. Monday will be an interesting day, to say the least. But no matter, Arthur Hailey goes into the GOLD HALL OF FAME regardless of what Barrick announces. Placer Dome heard him loud and clear. I will be toasting to you Arthur on Monday and winking to you at the same time. HIP HIP All the best, Bill Murphy Chairman, Gold Anti Trust Action (GATA) gata.org Le Patron, Le Metropole Cafe lemetropolecafe.com The above mention of GATA is as follows. Bill Murphy, Chairman, Gold Anti Trust Action (GATA) gata.org Also, GATA related articles can be obtained at the pay for view site. Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com