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

To: John Soileau who wrote (49251)	2/17/2000 1:36:00 PM
From: Gord Bolton	Respond to of 116753

No news yet from Ashanti on their meeting with their hedge buddies--or did I miss it?

To: John Soileau who wrote (49251)	2/17/2000 1:43:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116753

For there to be bounces of this size, can there be any doubt some government somewhere is involved? Thus the basics of the GATA request for a more free & open gold market. There may have been fortunes made & lost in gold today.

To: John Soileau who wrote (49251)	2/17/2000 6:17:00 PM
From: Ken Benes	Read Replies (3) \| Respond to of 116753

Frank Veneroso and John Brimelow have served commentary at The Dos Passos Table entitled, "The Ever Strengthening Case for Huge Undisclosed Official Selling." "Risk perceptions by prior private short sellers -- funds, bullion banks, and producers -- have changed dramatically. Selling gold short is no longer viewed as a one-way bet. Consequently, these parties moved to cover shorts in a significant way during the fourth quarter of 1999." "The gold market remained in a supply/demand deficit in Q4 1999. Because the net short position in the gold market is a physical short, it cannot be covered unless the gold market is in a surplus and, even then, it can only be covered slowly. A move to cover the net short position in the gold market should have led to an explosive rally last year." For Frank Veneroso to admit that undisclosed cb selling may be undercutting a short covering rally is to put in question that entire hypothesis that the existing short position in gold cannot be covered without putting enormous upward pressure on the price of gold. Makes the case for an equilibrium price in the 350 range rather than the plus 400 range. Ken