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To: pater tenebrarum who wrote (54674)6/19/2000 11:36:00 AM
From: Enigma  Read Replies (1) | Respond to of 116815
 
The Washington Accord has its downside too - the 400 ton figure IMO is a net figure - in other words if a CB (from the 15) steps in and buys 50 tons during the year - it allows the sellers to sell 450 tons. I may be wrong about this - but I have no info. which indicates otherwise. As Bob Johnson has pointed out 400 tons exceeds the average of 300 + tons/year over the last several years - and I assumed that 300 tons was net of purchases.

The W.A. would have more force if it used a 200 or 250 ton figure.



To: pater tenebrarum who wrote (54674)6/19/2000 1:41:00 PM
From: Crimson Ghost  Read Replies (1) | Respond to of 116815
 
The XAU is holding up well during this POG selloff because it was about as cheap as it gets relative to bullion on Friday. It obviously (and correctly) never believed that the recent POG bounce would last.