Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (57581)	8/23/2000 5:31:31 PM
From: lorne	Read Replies (1) \| Respond to of 116845

GREENSPAN BOOSTS BANKS Wednesday,August 23,2000 By JOHN CRUDELE " USUALLY it's hard to translate Alan Greenspan's words into something sounding like investment advice. But the meaning of the Fed chairman's recent statements - and yesterday's decision not to raise interest rates - have come out loud and clear to some Wall Street pros: buy bank stocks and shares in a few brokerage firms. " Full story >>> nypostonline.com

To: long-gone who wrote (57581)	8/23/2000 6:46:28 PM
From: Zardoz	Read Replies (2) \| Respond to of 116845

Any more thoughts on why xau down so little with gold down so much? Many thoughts... But why do people still buy gold stocks when gold is dropping: Because some mutual fund, broker, producer, speculator; thought maybe there is value in gold stocks. Maybe they haven't taken into account fuel prices and how that effects marginals on costs. Maybe they are just covering. Who cares why the XAU didn't fall as Gold did, it's only one day. You still have time to act: Buy, sell or hold. Hutch Ooops: did I say BUY... lol no.

To: long-gone who wrote (57581)	8/24/2000 3:30:16 AM
From: PaulM	Read Replies (1) \| Respond to of 116845

NET CENTRAL BANK GOLD SALES TO REACH 700 TONNES IN 2000 See the third post down. gold-eagle.com:3128/cgi-bin/gn/get/forum.html?date=2000%3A08%3A23%3A15%3A00%3A00 Hello, R. Personally, I think the number is/will be higher than that. Haven't been paying much attention to gold lately, but as best as I can tell what has been happening is this: In September of last year, when the Europeans announced their cap on gold sales, and the market went crazy, the US Treasury got various lesser central banks to turn over a boat load of gold to its bullion bank clients. Although the worst was over for the bullion banks, they got their smart people to do some calculations and, lo and behold, determined that over time there probably wasn't enough central bank gold in "friendly" hands to cover everybody. Ever since then, they have been managing the price so as to minimize the physical offtake, hoping to get enough private dishoarding before the day of judgement. They could have driven gold below $250 many times, but that would be wasting what they now regard as a necessary cushion because of physical off take. On the other hand, if gold broke out of its curent range to the upside, that would generate unwelcome interest. On a one or two day basis, they still have absolute control over the price. This is useful so that they can show us that gold won't respond to an event that, in fact, it must respond to in the longer term: like a falling dollar or some financial crisis. P.S. Before you get too discouraged about how outrageously imbalanced the gold market is, if it will make you feel any better: the US stock market, the US Treasury market, the silver market, and the global currency market generally are all equally outrageously imbalanced.