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

To: paul ross who wrote (65096)	3/8/2001 1:56:55 AM
From: paul ross	Respond to of 116752

``I have this very strong sentiment that below $260 an ounce, the central banks don´t want it to go lower,´´ InfoBeat Precious Metals Report - 03/07/2001 Gold markets tightened on Wednesday, lifting COMEX futures prices in tandem with a rebound in gold lease rates toward last week's high, which raised the cost of funding forward sales. News from the UK Treasury that its next six bullion auctions, starting in May, would be slightly smaller than its 10 auctions since July 1999, was mildly supportive, though wariness from years of official sector bullion sales persists. In Europe, one-month lease rates rose to 4.28 percent, from 2.28 percent late Tuesday, and closed near the high touched last week during gold's short covering rally. By late trade, however, the rate had dropped back to 3.0 percent. The last rate rally unwound some of the overselling seen last month, when gold nearly retested its 20-year low. The $251.70 low was touched before the Sept. 1999 Washington Agreement that limited central bank sales and lending, and sparked a massive short squeeze. ``I have this very strong sentiment that below $260 an ounce, the central banks don´t want it to go lower,´´ said a bullion dealer. There has been speculation that the recent surge in lease rates, which normally hover around half a percent, arose from a shortage of gold for loan from central banks because of their reserve sales. Wednesday's tightness, reflected in narrower forward sales premiums known as contango, was also attributed to sales by speculators and Australian producers. Early this week, they appeared to find a pullback in lease rates and a tumbling Aussie dollar an attractive combination for locking in hedge sales. (Reuters)

To: paul ross who wrote (65096)	3/8/2001 2:10:12 AM
From: goldsheet	Read Replies (1) \| Respond to of 116752

> You seem to have a habit of confusing an issue with the facts<g>... Yup. Even more interesting is a regression between the dollar index and gold resulting in an R squared of .18 The relationship has been very strong over the last five years, but over 16 years, there isn't a significant statistical relationship between gold and the dollar. Regression Output: Constant 595.219 Std Err of Y Est 46.771 R Squared 0.180 No. of Observations 3871.000 Degrees of Freedom 3869.000 X Coefficient(s) -2.457 Std Err of Coef. 0.084