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: Crimson Ghost who wrote (62453)	1/4/2001 9:58:04 AM
From: Rarebird	Read Replies (1) \| Respond to of 116756

<I now am leaning toward the conclusion that GATA is correct in arguing that NOTHING will move POG very much unless the manipulators lose contol.> As you know, I don't agree with you. But that's OK. We can agree to disagree. 18 years of a Mega Bull Market has not destroyed sentiment all that much, regardless of the tremendous losses in high tech. Yesterday's price action in the Gold Market was an affirmation that Chairman Greenspan will save these markets. But will he be able to do so and at what expense? Will not gold eventually benefit here from radical easing? The key is the dollar. Gold is not dead. I urge you to be patient and not take every tick so seriously. But you are who you are and I appreciate your thoughts.

To: Crimson Ghost who wrote (62453)	1/4/2001 9:59:38 AM
From: Bruce Robbins	Read Replies (1) \| Respond to of 116756

IMO we definitely need a crisis of some sort, be it energy, credit/monetary or war to get things moving. Otherwise we may have to wait for the manipulators to manipulate things on the up side <g>. I was surprised to see the dollar strengthen with what Al did yesterday... temporary situation? Bruce

To: Crimson Ghost who wrote (62453)	1/4/2001 10:26:51 AM
From: long-gone	Respond to of 116756

<<GATA is correct in arguing that NOTHING will move POG very much unless the manipulators lose contol. >> Their near loss of control may have been at the base of AG's move yesterday. I suspect GATA lawsuit miffed AG.

To: Crimson Ghost who wrote (62453)	1/4/2001 12:22:41 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 116756

G Cole - re: no gold move on the Fed Cut ? ... George, George, George; Do you think Easy Al; is really that stupid ? Now, what is a "surprise intra-day Fed Cut" ? It's a market "intervention & stabilization". Do you REALLY think that Greenspan & the Fed; would just throw out a .50 bp rate cut "naked" ? No. The Fed had a job; to stop the foreign repatriation from the US Dollar & equity markets & to stop the bleeding & soften (too late) the US economic landing. Grenspan & the Fed would do 3 things imho in unison. 1. Prop up the US Dollar 2. Supress the Price of Gold 3. Announce the Rate Cut Why would they waste a naked, unprotected .50bp rate cut; without protecting/supporting the US Dollar ? Would they let the US dollar continue to slide into the face of a Fed Cut ? ... hell no; they couldn't take the chance. Also; would they dare allow Gold to rally as a contrarian "alarm" indicator ? ... you bet your ass they wouldn't. ...give gold some time. I would think the XAU may weaken due to an exodus of some flight to safety money that arrived here of late - possibly getting what I anticipate; a double bottom re-test of the XAU low 40's levels. - that would actually be a good thing imo. But; if the XAU holds here; especially into some POG weakness - BAMM ~ Think a wee bit outside the box here GC & give Easy AL some credit - he would NEVER let a rate cut float out there "naked" without supressing Gold & propping up the Dollar... give it some time. The Fed cut is too late & fails to address the fundamental problem of still inflated equity valuations & falling earnings & revenue into the face of a still less than soft landing imho. Gold will have its day.... stay in the pocket & be poised for a double bottom re-test... and again; if the XAU does hold here - that's saying something ~ good luck