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: Richard Mazzarella who wrote (62884)	1/23/2001 1:51:02 PM
From: long-gone	Respond to of 116770

I think it is OVER! It maybe OK to invest in precious metals again!

To: Richard Mazzarella who wrote (62884)	1/23/2001 2:04:53 PM
From: russwinter	Read Replies (1) \| Respond to of 116770

The funds are leaning on the market today (266.40 on Comex as this is written), post BOE. They are not off the hook on these shorts, and my guess is they have dug themselves into more deep doo-doo. The auction was oversubscribed nearly 5 to 1 at $268. That means there was demand for PHYSICAL gold to the tune of 3.8 million ounces at that price. So 80% of the interest at buying that level went unfilled. Meanwhile on the COMEX we see 266 and change on a paint job. The traders there would have us believe that big supposedly sophisticated buyers of three million unfilled ounces simply changed their minds and went away? It simply won't work. This market is about to erupt. I think this illustrates how the paper Comex market is suspect. There has got to be some master of the universe at one (or several?)of these big trading houses that has himself in very serious trouble.