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

To: Alex who wrote (63970)	2/18/2001 2:54:47 PM
From: russwinter	Read Replies (2) \| Respond to of 116767

Alex, you make excellent points on this forum. Here is something else that has convinced me that the latest lean job on POG has little to do with fresh producer hedging or even CB selling or leasing. It's the LBMA (London Bullion Market Association)stats of late. These stats are the best weathervane on the actual physical availability of gold. It gives an excellent reading on how much gold liquidity there is in REALITY (as opposed to what the spinmeisters say). lbma.org.uk The evidence is stunning and clearly points (in conjunction with the huge spec shorts on the COT) that speculators, hedge funds, and no doubt their buddies the bullion banks are using extraordinary levels of short selling to depress gold prices. There has never been a better opportunity for a substantial big player to light a match, and blow these yahoos up. Note the ounces transferred peaked at the time of the Washington Conference at 37.2 million (Sept-Oct. 99), and dropped during the melt up to 22.2 million (Jan, 00). Then when things started to get out of hand, the CB's probably leased liquidity into the market given that ounces transferred increased to 30.0 in Feb, 2000. There was no doubt a rash of producer hedging as well. A little liquidity was provided until June, 2000, and then it was withdrawn. It has been averaging a mere 20.0 or almost half the levels of pre- Wash. Agreement since. In Jan, 2001 gold liquidity was only 19.7 million oz., signaling an extreme (indeed a record low)acute lack of physical gold in the system. And the real reason gold is where it's at: Message 15367795 As a result of the evidence, I believe CB's are honoring the Agreement and I believe the hedge books are beginning to shrink. And shrink they should given the rollover in production and the mark down of producer gold reserves. I also believe the CB's gave the dealers some breathing room to clean up their act after the WC meltup. Instead of doing so, they've engaged in the most egregious ramp job imaginable. The CB's should not use their nation's gold reserves to bail them out another time. Now if anyone reading has $258,000 US dollars burning a hole in their pocket, take it down Monday to one of the following institutions: JP Morgan, Deutsche Bank, Chase Manhattan, or Goldman Sachs. Walk up to the counter, plop down your paper money, and ask them to bring you ten one hundred ounce bars of the f------- gold. Then let us know if they have any on hand, or do they have to send a Brink's truck out and borrow it somewhere? If you don't have the dough, then e mail the CFO of every gold stock you hold that does any hedging, and ask them why they aren't actually buying back their forwards. While you're at it tell them to spend a little more time winning back alienated gold investors, and a little less time hobnobbing with bullion bankers.

To: Alex who wrote (63970)	2/19/2001 9:46:34 AM
From: Alan Whirlwind	Respond to of 116767

biz.yahoo.com First time in a long time that gold moved on headlines of world tension. Actually, the gold market was already closed and gold stocks had to do. One thing about stocks or currencies that suddenly get out of favor--the drops are often long and steep. The same is true for the rises. One ray of hope for metals investors is the Sunshine mine closing which may be a signal that the bottom is at hand for silver. Give Nortel a year or two and it will probably be everybody's darling again.

To: Alex who wrote (63970)	2/19/2001 2:23:23 PM
From: long-gone	Respond to of 116767

UK ElectronicTelegraph ISSUE 2094 Saturday 17 February 2001 Treasure tombs unearthed in Peru By Jeremy McDermott, Latin America Correspondent THREE treasure-filled tombs from a little-known ancient society that disappeared 700 years before the Incas reached the peak of their power, have been found in Peru. After three years of digging, Peruvian and American archaeologists have unearthed three tombs in a 105ft pyramid at Sipan, 300 miles north-east of Lima on the Peruvian coast, a monument of the Moche civilisation, dating to between 800 and 1000 BC. In the richest of the three tombs, the male occupant's face was encased in a large copper bowl, beneath which was a finely detailed copper and gold funerary mask. Five gold objects were found in his mouth, and ornate sculptures in gold, copper and clay lined his tomb. Christopher Donnan, an anthropologist from the University of California, Los Angeles, said: "The most memorable moment was when we uncovered the burial mask. It was almost life-size. And it's got to be one of the greatest pieces of pre-Columbian art ever excavated." Walter Alva, a Peruvian archaeologist on the team, said the mask was in such good condition that it was fully restored with just "a wipe down to get off the dirt". Archaeologists were also surprised by the size of the three buried nobles. Mr Connan believes these men are the tallest pre-Columbians ever excavated in South America. Mr Donnan said: "We were astonished at the height of these individuals. They were up to 6ft tall. The average Moche male is between 4ft 9in and 5ft 6in tall and so they were way out of the range." Mr Alva said the three men "belonged to the Moche elite, almost certainly from an important caste of warriors," an assertion backed up by the array of weapons found in the tombs: war clubs, spear-throwers, spears, and gold-plated shields. Mr Donnan said: "There were objects in these tombs that I have never seen or even imagined before." Images of bats, which held a special place in Moche culture, adorn the tombs, in depictions of human sacrifices and ritual blood drinking. Also found was an exquisite ceramic bat, a head-dress decorated with gilded copper bats, and a gold bat nose ornament. The Moche civilisation existed for about 700 years on the desert plain between the Andes Mountains and the Pacific Ocean. Researchers have found signs of their advanced engineering prowess, with rivers diverted to irrigate their crops. Mr Donnan said all the treasures had been taken out of the tombs and were being stored in a museum in Peru. A selection will be on display in Florence in May. telegraph.co.uk